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Significance

A range of parties, old and new, are battling for the attention of two broad electoral constituencies, one inclined towards Europe, and the other looking east to Russia. Moscow has a clear interest in its Socialist allies winning, but that outcome is uncertain.

Impacts

Perceptions that the political process (regardless of victors) is controlled by oligarchs will dampen investor interest.

The EU is already concerned about some of its notional allies in government but would prefer a pro-Western to a pro-Moscow government.

The longer-term drift, economic and ultimately political, is towards the EU.

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