Today, the U.S. Treasury Secretary Jacob J. Lew announced the signing of a $1 billion loan guarantee agreement for Ukraine. This guarantee, when completed, will complement the Government of Ukraine's International Monetary Fund (IMF) reform program and underscores the United States' commitment to Ukraine.
This comes as Ukraine is threatening to stop paying what it says are usurious prices for Russian natural gas, and the Russians are threatening to cut off deliveries for past underpayments. Thus, as Zero Hedge points out, the right headline for this story could be:
US Pays Half Of Gazprom's Overdue Invoice With $1 Billion Ukraine Loan Guarantee
Meanwhile, stand by for news of further U.S. sanctions against Russia.
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