Ukrainian Prime Minister Yulia Tymoshenko announced on June 10 that three banks will be bailed out. The state will take over stakes ranging from 84-98 percent in the mid-size banks Rodovid, Ukrgazbank and Kyiv. The government does not plan to keep the banks permanently. They... MORE

The ongoing battle over the construction of the Russian-German Nord Stream gas pipeline is reaching a critical stage. In June the German ministry of defense once again voiced its opposition to the proposed route of the pipeline, and presented their arguments to the German parliament's... MORE

The oldest opposition party in independent Belarus, the Popular Front, appears to be on the verge of yet another split within its ranks, one that according to its leader Lyavon Barcheuski, might result in its extinction. On June 20, the Popular Front will hold a... MORE

Belarus refused to attend the Collective Security Treaty Organization (CSTO) summit in Moscow on June 14. The summit made decisions to enlarge the size of collective rapid deployment forces, the scope of their missions, and the legal basis of their operations.President Alyaksandr Lukashenka cancelled the... MORE

The E.U. has set December 2009 as the deadline for Turkey to open its ports and airports to Greek Cypriots, and failure to comply might result in the suspension of talks on membership. Resolving the Cyprus issue is a critical part of the conditions set... MORE

According to an interview with Ukraine's Ambassador to Russia Konstantyn Hryshchenko, the country's bilateral relationship with Russia has sunk to its lowest level since the disintegration of the Soviet Union, testimony to the Russian state control of the media and its ideological crusade against Ukraine... MORE

Voter apathy within the E.U. during the European parliamentary elections on June 4 resulted in only 40 percent of Europeans' voting. The election witnessed conservatives and center-right parties winning a decisive victory within most European countries. Britain, Germany, France, Italy, Spain, Poland, Holland, Austria, Hungary,... MORE

The talks on forming a coalition between Prime Minister Yulia Tymoshenko and Party of Regions (PRU) leader Viktor Yanukovych have failed due to mutual distrust. Electing the next president in parliament was among the main conditions for a grand coalition that would have permitted Tymoshenko... MORE

*Note to readers: the M:Communications company advises that Mr. Gennady Timchenko owned less than 0.1 percent of Surgut shares as of June 11 The Kremlin-connected oil company Surgut Neftegaz has launched judicial proceedings in Budapest's metropolitan court against Hungarian MOL, the most successful private oil... MORE

As anticipated (EDM, May 26) Moldovan opposition parties have forced the holding of new general elections by boycotting the election of a head of state in the newly-elected parliament on June 3 (Moldpres, June 3-7). The opposition's move has, in effect, nullified the parliamentary elections... MORE