A major problem with Ukraine and with much of Western Europe is the dependency on Russian natural gas. This is the reason we have a small long position in Gazprom.
Ukraine owes Russia over $2 billion. It is a cold winter and it could get much colder.
It should be know by all investors that Gazprom is the choice weapon of Russian foreign diplomacy.
http://www.iht.com/articles/ap/2008/12/24/business/EU-Russia-Ukraine-Gas.php
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