EU on the brink

Author:

Sir: In the ongoing Ukrainian crisis in the Eurasian region, most of the focus is on US and Russian diplomatic relations but one must also look at the fragile, almost critical condition of the EU on this particular issue. The EU has been engulfed in a severely messy situation as it is unable to decide whom to align with in this mess. The fundamental reason behind its indecision is economic dependence. To a great extent, the EU cannot risk inciting Russia because it is heavily dependant on the Kremlin for its energy requirements. Moreover, even if they, along with the US, support Ukraine’s independent stance, Russia’s economic leverage on Ukraine will put them in an embarrassing situation because they will be unable to financially support Ukraine in the midst of their own economic crisis and mammoth financial needs. Supporting a new Ukrainian regime while being unable to assist them financially will put the EU in an embarrassing situation. Thus, the EU has to devise its policy with extreme caution.

SAUD BIN AHSEN

Lahore

Share
Leave a Comment

Recent Posts

  • Top Stories

Senior executives at Mercuria to face investigation by Pakistan’s FIA

Mercuria, a global commodities trading firm headquartered in Geneva, finds its senior executives under scrutiny…

5 hours ago
  • Business

PSX extends bullish trend with gain of 862 points

Pakistan Stock Exchange (PSX) remained bullish for the second session in a row on Monday,…

5 hours ago
  • Business

PKR depreciates by 3 paisas to 278.24 vs USD

The rupee remained on the back foot against the US dollar in the interbank market…

5 hours ago
  • Business

SECP approves PIA’s scheme of arrangement

The Securities and Exchange Commission of Pakistan has approved the Scheme of Arrangement between Pakistan…

5 hours ago
  • Business

Gold snaps losing streak

Gold price in the country snapped a six-session losing streak and increased by Rs2,500 per…

5 hours ago
  • Business

Rs 83.6 billion loaned to young entrepreneurs: Rana Mashhood

Chairman of the Prime Minister Youth’s Programme(PMYP) Rana Mashhood has underscored the success of the…

5 hours ago