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Ukraine's parliament removes President

  • Following a week of violent anti-government protests that has left dozens dead, Ukraine's parliament yesterday voted to oust President Viktor Yanukovych and to set elections for May 25.
  • The ballot came not long after demonstrators took control of Kiev's city center and Yanukovych left the capital to the eastern part of the country. He tried to board a plane to Russia but was prevented.
  • The parliament also freed opposition leader and former Prime Minister Yulia Tymoshenko from prison after 2 1/2 years of incarceration.
  • The removal of Yanukovych comes after S&P downgraded Ukraine to CCC from CCC+ and said that the country is likely to default because of the political situation
  • Yanukovych's ouster could pull Ukraine, which is a key east-west oil route, back towards the EU and away from Russia. Demonstrations first started against the government in November after Yanukovych rejected an EU integration pact in favor of $15B in Russian assistance.
  • Previously
  • ETFs: GUR, ESR
Comments (3)
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    "shoulda, coulda, woulda...
    23 Feb, 02:07 PM Reply Like
  • Newbie trader
    , contributor
    Comments (167) | Send Message
     
    Hum... it's Russian oil and EU needs it either way.
    23 Feb, 04:30 PM Reply Like
  • TAS
    , contributor
    Comments (1895) | Send Message
     
    Obama announces new red line.

     

    World laughs.

     

    Putin will do what he wants with impunity.
    23 Feb, 11:24 PM Reply Like
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