Yesterday, after months refusing to bend, Putin finally relented, declaring Kiev could spread the repayments over three years, and waive any instalment this year.
The IMF applauded him instantly, and I’m sure Angela Merkel, said to have been urging him to compromise, will have raised a stein in his direction.
It’s probably not enough to get sanctions on Russia lifted when they’re reviewed in the New Year. His annexation of Crimea remains too big an obstacle.
But don’t be surprised if, following a UN-monitored referendum there, they’re eased in 2016.
Thanks to his mixture of bombs, money and diplomacy, east and west are coming closer together again.
