Reuters reported that Russia agreed a USD 15 billion bailout for Ukraine and slashed the price of gas exports under a deal that keeps the cash strapped country in Moscow's orbit but fuelled street protests in Kiev.

Mr Vladimir Putin's lifeline to Ukrainian president Mr Viktor Yanukovich was a triumph for the Russian leader in a geopolitical battle with the Europe Union. But the deal saddles Russia with a heavy financial burden and he failed to lure Ukraine into a customs union with other ex Soviet republics.