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The economic implications of Ukraine's move towards Russia

There’s a lot of uncertainty about what will happen next in Ukraine following the government’s decision to suspend preparations for an Association Agreement with the EU, apparently under pressure from Russia. A move towards Russia could bring some short-term benefits to Ukraine. But, by delaying much-needed reforms, it would merely paper over the cracks in Ukraine’s struggling economy which is likely to remain on the brink of a balance of payments crisis.

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