Ukraine, Georgia and Moldova Sign EU Pact

Ukraine, Georgia and Moldova have signed partnership agreements with the European Union, in a move strongly opposed by Russia.

The pact – which would bind the three countries more closely to the West both economically and politically – is at the heart of the crisis in Ukraine.

Russian President Vladimir Putin said making Ukraine choose between Russia and the EU would split it in two.

A ceasefire with pro-Russian rebels in east Ukraine is due to end on Friday.

Ukrainian President Petro Poroshenko, in Brussels to sign the pact, said he would take a decision on an extension to the truce when he arrived back in Kiev later on Friday.

Russian Foreign Minister Sergei Lavrov said he would welcome an extension, but not if it were simply an ultimatum for separatists to lay down their arms.

Meanwhile the United Nations refugee agency said there had been a sharp rise in the numbers of displaced people in eastern Ukraine in the past week, with 16,400 people fleeing the area.

The total number internally displaced has reached 54,400, while a further 110,000 people left Ukraine for Russia this year.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza