Conditions attached to the offer could place Ukraine once again at the center of tug-a-war between the West and Russia.
Oil and gas multinationals record billions in profits, but a shifting energy landscape has taken its toll. Shell and Exxon Mobil posted disappointing earnings, further evidence the US oil boom isn't boosting the usual suspects.
Ukraine's political struggle conceals deep-seated economic fault lines. Whichever side emerges victorious from the crisis – and inherits the mess – is not to be envied.