Ukraine Ship Hijacked

A Ukrainian ship "Faina" carrying 33 T-72 tanks and other heavy weaponry paid for by the government of Kenya has been hijacked by a bunch of Somali pirates. You have to wonder why a ship carrying heavy-duty weaponry wasn't better protected. How did a few pirates on small boats take it over? Sure, they were armed with AKs and granade launchers. But can they possibly sink such a large ship?

And now reportedly, the Ukrainian shipping company is going to pay $8 million dollars for the release of the ship and its crew. What a waste...

Germany is Ukraine's second-largest trading partner after Russia.

As Ukraine is becoming more integrated in Europe, an interesting pattern is taking place. The weight of Ukraine's trade with Russia continues to decrease and the weight of trade with Germany and other EU nations continues to grow.

The EU block is Ukraine's number one trading partner already. And if nations are taken separately, Russia is still number one, though falling, and Germany is a growing number two trading partner of Ukraine.

Even without being a member of the EU or NATO, Ukraine is increasingly a European nation, closely integrated as it is economically with the rest of Europe.