The much-cherished Sevastopol naval base, an extensive gas pipeline network, and maintaining a strong presence in its traditional sphere of influence: the reasons for Russia’s rapprochement with Kremlin-friendly Viktor Yanukovych are manifold.  Ukraine’s willingness to sidle up to its domineering partner has caused more scratching of heads.  An analysis in the New York Times by Andrew Wilson clearly lays out some of the possible reasons for Kiev’s accomodation of Russian aims:

This new Ukrainian foreign policy is something of a mystery. Even some old hands are wondering why Ukraine is huddling so close to Russia, and why it has conceded so much so quickly.

Four possible explanations suggest themselves.

One is that Ukraine is still in economic trouble and the rapprochement with Russia is all about cheap gas. The gas discount obviated the need for harsh spending cuts, and Kiev thinks a budget deficit under 6 percent of gross domestic product will bring the International Monetary Fund back to the table. Standard & Poor’s has upgraded Ukraine’s credit rating from B- to B.

In the short term, the gas deal is also the one thing that pleases both competing wings of Mr. Yanukovich’s Party of the Regions. The Dmitry Firtash group runs several chemical plants; Rinat Akhmetov’s main business is steel. Together, they consume almost half of all Ukraine’s gas imports.