Russia and EU exercise 'dollar diplomacy' game in Ukraine

On November 21, 2013, the Ukrainian government suddenly announced the suspension of preparations for the signing of an association agreement with the European Union, which resulted in mass protests in Ukraine and ultimately led to the most serious political crisis since "Orange Revolution" in 2014.

The crisis not only highlighted the profound contradictions in Ukrainian domestic politics, but also reflected the fierce geopolitical game between Russia and the EU. Ukraine made a pause in its cause for integration with the EU and Russia won the upper hand in the game but did not win completely.

In geo-strategic layout of both Russia and Europe, Ukraine is at the first place. With the continuous simmer of Ukrainian domestic political crisis, Russia and Europe entered "dollar diplomacy" phase the game. The EU plans to offer 88 million euros of budget support funds to Ukraine in 2014. While Russia has announced to buy 15 billion US dollars worth of Ukrainian government bonds and sharply cut the price of natural gas for Ukraine.

Facing with Russian strong capital support for Ukraine, in what extent can the EU regain the situation in 2014 is not yet clear. Facing with complex domestic political situation, how to get out of the recent political crisis for Ukraine will become the key between Russia and Europe.