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Illegal Russian #39;Aid #39; Convoy Enters Ukraine: Kremlin accused of using convoys to arm insurgents
The 9th so-called an aid convoy made up of more than 130 Russian trucks reportedly crossed into Donetsk and Luhansk regions in eastern Ukraine today without a customs inspection and without...

By: UKRAINE TODAY

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Illegal Russian 'Aid' Convoy Enters Ukraine: Kremlin accused of using convoys to arm insurgents - Video

Poulin terror na Ukrajine (Ukraine Terror)
Vboje na rusko ukrajonskej hranici poradne lehi na lidel.

By: iLu ZiOn

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Poulin terror na Ukrajine (Ukraine Terror) - Video

He speculated that Poroshenko made his campaign promise "because he didn't want to be perceived as yet another oligarch." He added, "I believe his asset base is not in any way dependent on politics and can hardly be influenced by his position."

Some of Poroshenko's predecessors have been accused of using the office of president to enrich themselves. Ukrainian prosecutors allege that Viktor Yanukovich, who fled to Russia in February, left the country with billions of dollars. He has denied any wrongdoing.

Several investment bankers who specialize in the consumer market expressed skepticism in recent interviews that any company would invest in a Ukrainian company like Roshen, given the country's current political climate. Many weren't even monitoring the potential sale of Roshen, with one saying he was "not sure it is actually real."

Salvetti and Paseniuk countered that Poroshenko is serious about selling. There have been some "preliminary discussions" about Roshen, Salvetti said. "Clearly the market conditions suggest to buyers some cautiousness. We have had some discussions with potentially serious people. We will have to see how the market will evolve." He declined to elaborate.

Two potential buyers who already do business in Ukraine - Switzerland's Nestle SA and Cadbury's U.S. parent, Mondelez International Inc - both declined to comment.

Hard candy

Roshen, which operates six factories in four different countries as well as a chain of upscale retail shops, derives its name from the two middle syllables of Poroshenko's surname. Despite the president's nickname - the Chocolate King - Roshen also manufactures cakes, hard candies, toffee, biscuits and numerous other non-chocolate treats.

At its headquarters in Kiev, Roshen president Vyacheslav Moskalevsky said, "It would be strange if I said it was a favorable time to sell." He owns 9 percent of Roshen, but, in contrast to Poroshenko, said he has no plans to sell his stake.

Read More Only 'minimal' risk of default: Ukrainian official

He said although the company is still profitable, sales in the first 10 months of this year totalled $640 million, down 35 percent from last year. He said the company has lost a total of about $4 million a month in sales in eastern Ukraine due to the war and in Crimea, which Russia annexed in March. Its costs for raw materials have skyrocketed in part due to Ukraine's plunging currency.

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Ukraine's Chocolate King president not sweet on promise

Ukraine, having found an unlikely alliance with Russia at UN talks on global warming, reversed its position to back the European Union on ratifying a treaty that limits pollution.

In a last-minute U-turn, Ukraine gave up demands to delay rules on the second stage of commitments under the Kyoto Protocol. Earlier this week, the nation stood with Russia in seeking to hold up rules needed to bring the treaty into force because they cut potential earnings from emissions credits.

Countries in Eastern Europe built up a surplus of Assigned Amount Units, which is the UN currency for limiting fossil-fuel emissions, after their economies collapsed in the 1990s with the fall of Communism. Until today, Ukraine was seeking more discussion on the rules on selling of those units or using them to comply with future pollution. The European Union signaled it will not agree to changes in the accounting methods.

We were waiting for a final decision of our minister, Vitaliy Kindrativ, Ukraines deputy head of department at the Ministry of Ecology and Natural Resources, said in an interview in Lima. Today we met the German delegation and the European Union delegation, and we confirmed that the EU way is the only way for Ukraine. We agreed on the text and the Kyoto rules.

The Kyoto Protocol limits greenhouse pollutants in industrialized nations, leaving poorer countries to make only voluntary commitments. The first phase of the treatys limits ran to 2012, and nations now are working to ratify the second commitment period of the deal that has limits through 2020.

Ukraine has limits through 2020 under Kyoto, though Russia decided not to join in the second period. Carbon trading mechanisms and accounting rules are administered by the UN conference, which is due to finish its annual meeting today in Lima, Peru.

Its up to the presiding officer at the UN climate talks whether to re-open the issue or postpone it until June. If he does, envoys from 190 nations would need to come to a consensus on the issue. The rules would enable ratification of the 2013-2020 phase of the Kyoto Protocol.

A Russian delegate to the talks demanded at a meeting on Dec. 10 more discussions on the text of the decision, and Belarus backed it. The Ukrainian negotiator told the gathering that as her country is in an extremely difficult humanitarian, social and economic situation, its more difficult to comply with the rules on carbon pollution.

Ukraine is trying to halt hostilities and start new talks with the pro-Russian insurgents its fighting in its eastern Donetsk and Luhansk regions. The crisis has triggered Russias worst standoff since the Cold War with the U.S. and Europe. Russia denies its involved in the conflict.

Caps on the emissions of countries under the Kyoto Protocol are represented by Assigned Amount Units, handed out to nations that take on legally binding targets. Those that exceed their pollution limits may buy AAUs from ones that enact deeper cuts than required.

Read more from the original source:
Ukraine Alligns With Russia in Delaying Pollution Limit

Shymkiv, the former head of Microsoft Ukraine who is now tasked with implementing much-needed administrative, social and economic reforms in the country, said: "We're trying to bring our knowledge and experience to the development of the country. That's the only way we can bring it out of the mis-development of the economy."

Asked about potential conflict between Yatseniuk and Poroshenko, he said: "There aren't conflicts between President and Prime Minister. We have no time to have disputes."

He added that he believes Ukraine is still on the radar of international investors, after discussions in London this week, and argued that it is possible for the country to turn back the tide on rampant corruption.

"Ukraine can still escape a financial meltdown," according to Anders Aslund, senior fellow at the Peterson Institute for International Economics, who wrote in a blog this week that the government, "appears to be prepared to do what it takes" but "needs to cut public expenditures fast."

That may not be fast enough for bond investors. The yield on Ukrainian debt due for repayment in September has shot up to more than 50 percent, suggesting that investors think there is a high chance the country may default on repaying this debt.

"Within the next six months, there will be absolutely different indicators on the economy. Keep us on the list, we'll be back," Shymkiv added.

Correction: This version corrects the job title of Dmytro Shymkiv.

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Only minimal risk of default: Ukraine official