A few days ago we reported that the Ukraine decided to call Russia's "trump card" bluff - that would be everyone else's reliance
on Russian gas supplies - when it drastically cut imports of Russian
gas by 80% in February, seemingly to demonstrate its energy independence
from Puting. Now Russia has decided to take the Ukraine to task, by
announcing it has halted oil deliveries to the Ukraine Odessa refinery.
Hopefully the Ukraine, whose foreign currency reserves tumbled from
$17.9 billion on February 1 to $15 billion currently, has alternative
means of supplying itself with energy from benevolent sources,
particularly those who are willing to provide the country with oil in
exchange for goodwill.
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