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Ukraine has yet to solve the challenge of life after communism. Hyperinflation is just a memory and democracy is well entrenched, but production is declining, state industries remain unsold, and investors have largely stayed away. With nationalists ascendant in Russia, Ukraine needs Western money and diplomatic backing to preserve its independence and keep reform on track. A free, democratic Ukraine can serve as a model for Russia, prevent a new Soviet Union, and promote stability among its neighbors. A civil war between its Russified east and its more Ukrainian west, or its absorption into a new Russian empire, would reverberate throughout Europe.

New yorkUnited statesBlack seaOceans generalToshkent shahriUnited kingdomUkraine generalCzech republicOdes ka oblastLeonidd kuchmaBoris yeltsinMalcolm rifkindVladimir zhirinovskyYevhen marchukAndrei kozyrevInternational monetary fund