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Ukrainian president balances ties with Europe, Russia

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New Ukrainian President Victor Yanukovych, defied predictions Monday by making European Union (EU) headquarters his first overseas destination, showing his desire to delicately balance relations with Europe and Russia.

Analysts said Yanukovych's choice came after deep deliberation.

While Prime Minister Yulia Tymoshenko, whose political stronghold lies in central and western Ukraine, has been rejecting the presidential election results, Yanukovych is seeking backup from Europe to reconcile with pro-Tymoshenko voters, who lean toward Europe.

Ukraine's President Viktor Yanukovich (L) is welcomed by European Commission President Jose Manuel Barroso (R) ahead of a meeting in Brussels March 1, 2010. [Xinhua photo]

Yanukovych is also eyeing financial support from Europe to help recovery from the global financial crisis and boost the Ukrainian economy.

That wish was granted when European Commission President Jose Manuel Barroso promised the EU would provide 500 million euros (US$680 million) of financial aid for Ukraine.

In return, the EU is looking for a stable route through Ukraine for oil and gas from energy-rich Russia to energy-thirsty Europe.

By offering the economic stimulus, the EU can urge Ukraine to modernize its energy sectors and ensure the efficiency of its oil and gas line.

Ukraine, under previous president Victor Yushenko, frequently quarreled with Russia on energy disputes, leading to Russia cutting off of its gas supply to Ukraine and Ukraine's refusal to lease its oil and gas line, stopping supplies to Europe.

Meanwhile, during his visit to Brussels, Yanukovych emphasized Ukraine's foreign policy priority of developing ties with Russia, adding Ukraine would not expand its cooperation plan with NATO.

Russia has also made efforts to strengthen ties with the EU, so Russia is expected to accept Yanukovych's visit to Brussels.

Ukraine now apparently is adopting a comprehensive foreign policy by improving ties both with Europe and Russia to maximize its national interests, analysts say.