Former Ukraine Deputy PM Says "Another Coup Can Not Be Ruled Out" Among Currency Implosion, Central Bank Charges

Tyler Durden's picture

A year or so on from the last coup in Ukraine, Ukraine’s former Prime Minister Sergey Arbuzov told TASS, with growing popular discontent, "another state coup can’t be ruled out in Ukraine." As the cease-fire deal hangs torn and tattered in the Debaltseve winds, the nation is a mess: a new gas dispute looms as Gazprom demands upfront payments; capital controls have been tightened as the $17.5bn IMF loan may not be enough; and the central bank governor faces prosecution as the economy craters. All of these factors have driven massive outflows from Ukraine and the Hryvnia has crashed to over 33 to the USD - a record high (and 70% devaluation from the last coup).

The Hryvnia has crashed...


As EmergingEquity reports, another state coup can’t be ruled out in Ukraine, with growing popular discontent, including among the leaders of the last year’s protests, Ukraine’s former Prime Minister Sergey Arbuzov told TASS on Friday.

“It is not ruled out that another state coup might occur in Ukraine,” Arbuzov said following a meeting of the Center for Studies of Economic and Socio-cultural Development of CIS Countries, Central and Eastern Europe.


“Maidan leaders and field commanders are voicing their discontent more and more loudly,” he said.


The current situation in Ukraine is characterized by an atmosphere of fear and repressions, Arbuzov said, adding that “people are afraid to voice their opinion.”


Sergey Arbuzov was the Prime Minister of Ukraine between January 28, 2014 and February 27, 2014 following the resignation of Mykola Azarov. Prior to that, he was the governor of Ukraine’s Central Bank.

*  *  *

A new Gas Dispute looms...

Russia demanded Ukraine pay for natural gas shipped directly to rebel-held areas of the country, re-igniting a long-running dispute over energy supplies and raising the prospect of a total halt.


Without cash upfront, OAO Gazprom will cut off Ukraine when prepaid supplies run out, which the Russian exporter said could be a matter of days. There will be no more advance payments until Gazprom follows all its supply agreements, Ukraine’s state energy company said Tuesday in a statement.


“A new gas dispute is inevitable before the end of this week,” said Alexander Paraschiy, an analyst at Ukrainian Concorde Capital in Kiev.

*  *  *

Capital Controls tighten...



Help can’t come fast enough for Ukraine.


Conditions are deteriorating so quickly that the International Monetary Fund’s $17.5 billion bailout, pledged less than two weeks ago, may no longer be sufficient.


While Ukraine waits for the IMF loan, central bank Governor Valeriya Gontareva is tightening the amount of foreign currencies available to importers and banning banks from lending money for clients to buy currencies other than the hryvnia. More restrictions may follow as the country’s economy contracts amid a deadly conflict with pro-Russian rebels in the country’s east, Gontareva said Monday.


With its foreign reserves dropping 61 percent to $6.4 billion in the four months through January, the “cupboard is basically bare,” said Timothy Ash, Standard Bank Group Plc’s London-based chief economist for emerging markets. The hryvnia has fallen 71 percent against the dollar over the past year.

*  *  *

And, echoing Turkey, the central bank governor faces prosecution...

Ukrainian Prosecutor General’s Office has opened a criminal cases against National Bank governor Valeriya Gontareva, the Vesti publication said on Tuesday.



The Vesti said the case had been launched on February 16, 2015. An entry to this effect was put on the unified register of pre-trial investigations.


Kiev’s Pechersky district court on December 1, 2014 bound prosecutors to launch a criminal case against Gontareva on charges of office abuse to derive unlawful profits.


The Vesti claimed that the charges referred to the National Bank’s currency interventions in August 2014.

*  *  *

But do not worry American taxpayers... your politicians will merely provide more of your government-debt-guaranteeing money to prop up the regime they installed... until they need a new one...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Cognitive Dissonance's picture

The first rule of a coup of a coup is no pissing in the wind..............again.

<Hip waders are a must boys.>

Manthong's picture

Maybe the Rooskies will fund the next one and after “disappearing” a bunch of pro-US Nazis.

That would be a good thing.


max2205's picture

I coup for food

I coup for moar bailout 

I coup because I love you 

cornfritter's picture

for a minute there i thought your avatar was setting spot prices! .. no martini in sight though.. yes, a chicken for every pot!!

y3maxx's picture

Meanwhile more and more bankers desiring to go "whistle blower", get suicided.

cornfritter's picture

:-) every now and again it actually is comforting to be an impoverished red neck...  i used to think i'd be allergic to pain and poverty, but it starts to grow on you, toughens you up, but doesn't steal your compassion

Chupacabra-322's picture

"If at first you don't secede, Coup, Coup, Coup, again."
- Victoria "Cookies" Nuland.

Mountainview's picture

Fishhead sees the faults always with the others.

Patriot Eke's picture

The gold is already gone, and LPR/DPR forces are advancing.  In a recent video I saw, one of the fighters pointed to a captured artillery gun and said, "We'll use that to take Kiev."  The West is putting boots on the ground for many reasons, but the main one is to make sure the pro-Russian forces cannot, without serious consequences at least, advance as far as they are capable.  Kiev has no military left to field.  They have been defeated.  More and more drafts are not going to help either.  It's over for them unless they get outside help, and that's been the plan from the beginning in my opinion.

kananga's picture

At this rate, we might as well bundle Ukraine and freight it to Africa. It'll fit snugly in-between Gambia and Burkina Faso.

SilvertonguedAngel's picture

Yeah being poor has it's advantages.


When wall street tanks none of us even notice.

RevIdahoSpud3's picture

The nice thing (if there is a nice thing) about being impoverished, redneck or not, is that when the ceiling comes crashing down to great depression levels a poor person may not notice the difference. Life and lifestyles will remain unchanged. The ones who are affected most are those that lose enough assets they can't make it to their safe holes in S.A., N.Z. or where ever.

DetectiveStern's picture

If there's another backed by Russia the MSM will claim that a bunch of Neo-Nazi's are staging a coup.

disabledvet's picture

Sure isn't the policy of anyone on this site that I am aware of.


Time to fire this Secretary of Defense as well?

one_hundred's picture
one_hundred (not verified) Cognitive Dissonance Feb 25, 2015 1:32 AM

my neighbor's mother makes $86 /hr on the computer . She has been laid off for 10 months but last month her pay was $21128 just working on the computer for a few hours. go to the website...

Mike Masr's picture

Fuck the banderist nazi junta and as Victoria Nuland says, fuck the EU!  

disabledvet's picture

Well I don't see her rucking up anytime soon either.


"Thank you for saving me from the draft!"


Oh, yeah and..."only idiots serve their country.". That was another good one.


Indeed so fine sir!  Indeed so!


Now pass me the ketchup!

Youri Carma's picture

Correction: Nazionist Junta - Poroshenko's father surname is “Valtzman,” a Jew, yet Petro Poroshenko uses his mother’s maiden name, “Poroshenko,” reportedly also a Jew.

Jonesy's picture

Fuck Porky, he's toast!

gallistic's picture

Early on, Merkel thought that was the plan and openly backed the thieving "Gas Queen"- who seriously proposed using nuclear weapons on Russians- as the next "Leader" of Ukraine.

Neocon Nuland, junior "undersecretary of State for something"  told her and the entire EU to fuck off, and proclaimed that "Yats is the guy".

In a second coup, she might have a slim chance.

JustObserving's picture

Another failed state thanks to the Nobel Prize Winner spreading sweetness and light in this world. Ukraine will not recover for decades.  But the Neocons wanted war at Russia's borders for supporting Assad and there will be war and destruction for decades.

Obama failed his coup in Venezuela by Thierry Meyssan

Once again, the Obama administration has tried to force the change of a political regime that resists it. On February 12, an Academi (formerly Blackwater) plane disguised as an aircraft of the Venezuelan army was supposed to bomb the presidential palace and kill President Nicolas Maduro. The plotters had planned to place former MP María Corina Machado in power and have her immediately acclaimed by former Latin American presidents.

nuubee's picture

It's actually embarassing how often America's leaders use destabilization as a political weapon. It's like watching a country use biplanes with mustard gas when it has smart weapons at home.

I mean, you've got tools of information that no one else on earth has... and you fund a coup? What morans. Find pressure points on leaders you don't like, and squeeze... you should never have to turn to bloodshed, ever.

Manthong's picture

Let’s see.. Ukraine, Venezuela… maybe the Muslim–in-Chief can make it a fail hat trick.


SDShack's picture

Oh that happened long ago... Libya, Egypt, Yemen.... the list goes on and on.

Manthong's picture

Geez.. you’re right..

..must have been temporary mental myopia.

Kaiser Sousa's picture

this of course is a buy signal - right?


Vlad - please end this shit....

Alberich's picture

Vlad understands not to interfere with one's enemies when they are making a mistake.

Anunnaki's picture

You are absolutely spot on with this comment. Putin will counter every belliggerent move with actions not pejoratives and scolding

Yttrium Gold Nitrogen's picture

To quote Mish: 1. Fools never learn. 2. Fools stay in power longer than most expect.

disabledvet's picture

Well I'm sure Europe and the USA will step in there and start buying.

No worries Ukraine! We got your back on this one!

DutchBoy2015's picture
DutchBoy2015 (not verified) disabledvet Feb 24, 2015 1:07 PM

You have Ukraine's back?   Go polish your jackboots and iron your brownshirt.   I guess you missed the Swastika flying right sector goons.

Bunghole's picture

You really shoudn't jump to conclusions after a whole 2 weeks here on the Hedge.

Sarcasm runs amok here and it's obvious you cant comprehend it when you read it.

Maybe by your third week you'll get it.

Ludwig Von's picture

Bunghole zegt het juist, goed tussen de lijnen lezen en kijken wie wat zegt ! lol Aangenaam en welkom op het forum van de Amerikanen met gezond verstand en overdosis aan sarcasme en zelfspot. ( Af en toe een trol, maar die worden hier nogal vakkundig aangepakt) . :-) 

DutchBoy2015's picture
DutchBoy2015 (not verified) Feb 24, 2015 1:09 PM

Everyone one of you NeoNazi supporters of Kiev should watch this one.    ''Reflections on MH17''    you won't find this on USA MSM pack of liars media.

sudzee's picture


UK planes with arms going to ISIS shot down by Iraq.

DutchBoy2015's picture
DutchBoy2015 (not verified) sudzee Feb 24, 2015 1:15 PM

USA/UK/Israel has been arming ISIS all along .  They are the REAL AXIS OF EVIL.

Icelandicsaga...............................................'s picture

You forgot Saudis and Qatar .. all those countries with  a hard on to depose Assad .. Israel... US .. UK .. Saudis and Qatar are in on ISIS   Gen. Wesley Clark . while not a big fan .. has been more forthcoming about US policy than MOST .. .he mentions the who behind ISIS .. worth a read... Clark is the same one who said in 2007 at FORAV .. and in various interviews.... he had seen back in 2002 . a memo at the Pentagon mentioning the countries to be taken out by NATO  US . among them Iraq, Libya, Syria, Saudi Arabia, and Iran .. .Ukraine and Syria are connected .. in a twisted US PTB way .. all wars are bankers wars . or they managed to find enough ways to make massive amounts of money as do their corporate buds in the MIC.

layman_please's picture

about a week ago some sources in ukraine were reporting that ukraine has started to mediate US weapon transfers to ... wait for it... assad. one can't make this shit up.

how is it you say?

all the king’s horses and all the king’s men
couldn’t put humpty together again.

Paveway IV's picture

"...Gharawi added that "the US is trying to expand the time of the war against the ISIL to get guarantees from the Iraqi government to have its bases in Mosul and Anbar provinces."..."

Hey, that's where the Mosul to Haifa Blood-for-oil pipeline is being built. Lock down the area around Kirkuk after the fake ISIL war and you have the whole pipeline through Iraq and Jordan secured. The Golan? Yeah - Israel is building out the security buffer there, so that's nailed, too.

What a f'king coincidence...

vincenze's picture

So, the 1%, who have US dollars, will be able to buy Ukrainian properties, plants, and factories for pennies.

Somebody will buy Yuzhmash that used to produce fearful Soviet ICBMs and demolish it, or the huge shipyard in Nikolaev that used to produce aircraft carriers.

Jano's picture

Britons in Ua? Do they speak Russian? How are they going to organize that training with a language barrier on both sides?

....non-lethal equipment, night-vision goggles, body armour, which we have already said that we will give to Ukraine......

the Novorosiani are happy also with the canadian delivery of the same.

They will be thankfull also for the british delivery. Ukrainians are so corrupt, that they will sell the british delivery to the other side without any hesitation.

kowalli's picture

mercenaries will fight...

tired1's picture

I doubt it. They're there to spend the money they earn, not get shot to peices for someoe else's problems. That's the difference between fighting for a $ and fighting to preserve yourself and family against an invader.

That's what the west has become (or always was) : invading thugs bringing democracy one bomb at a time.

Max Steel's picture

Why not ? This coup de etat brought more poverty , corruption and violence instead of promised reforms during overthro

Pava's picture

actually it's 38 today...not 32...(officially) :)

Chuck Knoblauch's picture

Battle of the Banks.

Release the KRAKEN!