Ahead of the curve on warming Ukraine/Russia ties

Reuters was ahead with many developments in Ukraine’s wrecked economy, its tumultuous politics and relations with giant neighbour Russia. On April 21, when Ukraine agreed a 25-year extension of the lease of a port to Russia’s Black Sea fleet in exchange for a new Russian gas supply deal, Reuters was four minutes ahead of closest competitor Dow Jones with price and volume details of the gas deal and also ahead with details of the port deal – a sensitive issue in Ukraine and strategically crucial for Russia. Reuters has been charting warming relations between Ukraine’s new president and Russia ever since Ukraine’s presidential election earlier this year. In previewing the meeting between Ukrainian President Viktor Yanukovich and Russia’s Dmitry Medvedev, Reuters had spotted the likely bargain – in return for cheaper Russian gas, Ukraine would allow the Black Sea fleet to remain in Crimea, which is part of Ukraine, beyond 2017. The same preview predicted furious opposition from nationalist Ukrainians objecting to anything that restores Moscow’s influence over Kiev. On April 27 when Ukraine’s parliament debated the extension the speaker was pelted with eggs and a smoke bomb was thrown. Reuters was six minutes ahead in reporting the uproar and 30 seconds ahead when parliament ratified the deal in spite of the protests. The same day, Reuters was almost one minute ahead of Bloomberg when Ukraine’s parliament passed the 2010 budget – crucial to securing IMF assistance.