A man walks past a coal mine in the eastern Ukrainian city of Donetsk, July 8, 2014. Credit: Reuters/Maxim Zmeyev
In Ukraine's East, Soviet-Style Economy Withers Under Onslaught -- Reuters
(Reuters) - After pro-Russian rebels took 720 kg of explosives, 360 detonators and almost 1 km of wiring, the Skochinskiy coal mine, an ageing stalwart of the economy in Ukraine's Donbass region, was put out of action.
Fierce fighting and rebel requisitioning have stopped work at many of the coal mines in and around the strongholds of Donetsk and Luhansk. Without the fuel, nearby steel factories and electricity plants across Ukraine are struggling to work.
Many in Ukraine's western and central regions see the industrial east as a burden, home to an outdated Soviet economy of monolithic factories that offer little to the rest of a country where other sectors and smaller firms are more common.
Read more ....
More News On Ukraine's Economy
Ukraine will need billions of dollars in new aid this year, economists say -- Washington Post
Ukraine may need new bailout -- CNN
Ukraine economy hit by crisis: IMF -- Business Spectator
Ukraine bans pork imports from Russia -- ITAR-TASS
Russia may ban Ukrainian fruit and vegetable imports over re-export from Moldova -- ITAR-TASS
Russia’s ban on import of Ukrainian dairy products comes into force -- ITAR-TASS
Ukrainian company gas transit revenues fall 17% -- ITAR TASS
My Comment: All that I can say about the Ukraine economy is that if you have extra money to spare .... and are willing to wait a decade or two .... there are a lot of residential and commercial real-estate deals in Ukraine right now.
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