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Russia Moves to Bolster Ukraine Presidency with $2 Billion of Fresh Credit

Russia says it will release an additional $2 billion to Ukraine to support its moribund economy, a move seen as strengthening embattled Ukrainian President Viktor Yanukovych's bid to remain in power.

Officials say Moscow is expected to buy $2 billion of Ukrainian eurobonds this week, in addition to the $3 billion it bought late last year. The money is part of a $15 billion loan promised by Russia.

Mr. Yanukovych is facing three months of massive opposition protests triggered by his decision in November to walk away from a European Union trade pact in favor of closer economic ties with Moscow. The protests in Kyiv and other major Ukrainian cities have spawned widespread media coverage in the West and calls for more democracy in the former Soviet republic.

Meanwhile, German Chancellor Angela Merkel, a leading figure in the 28-member EU trade bloc, met Monday with two Ukrainian opposition leaders -- boxer-turned-politician Vitaly Klitschko and Arseni Yatsenyuk.



Klitschko, writing ahead of the meeting in the German daily Bild, said the opposition was seeking EU support for sanctions against the Yanukovych government and EU help in curbing the powers of the Ukrainian president.

A Merkel spokesman was later quoted by Deutsche Welle as saying the chancellor voiced "sympathy for the legitimate concerns of the Ukrainian people." But he said Ms. Merkel did not agree with calls for sanctions at this time.

EU and U.S. officials have repeatedly said they are working with the International Monetary Fund on details of an aid package that analysts have described as rivaling or exceeding the Russian bailout deal. But so far no concrete offers have been made public.

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Turkey's Main Opposition Party Hopes for Election Breakthroughi
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May 22, 2015 10:23 AM
Turkey’s main opposition Republican People’s Party has sought an image change ahead of the June 7 general election. The move comes after suffering successive defeats at the hands of the Islamist-rooted AK Party, which has portrayed it as hostile to religion. Dorian Jones reports from the western city of Izmir.
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