Through the end of 2014, Ukraine's government must pay about $10.8 billion to service foreign-currency-denominated debt, including interest payments, according to Moody's Investors Service. But as of July, Ukraine had only $1.8 billion in cash in its coffers, according to Moody's, which late Friday downgraded Ukraine to Caa1—deep in "junk" territory. The government is running a budget deficit of about 5% of economic output.

http://online.wsj.com/news/articles/SB10001424052702303759604579094842544773548

And today : Russia to await new Ukraine government before fully implementing rescue-Putin.

(Reuters) - President Vladimir Putin raised the pressure on Ukraine on Wednesday, saying Russia would wait until it forms a new government before fully implementing a $15 billion bailout deal that Kiev urgently needs.

Putin repeated a promise to honor the lifeline agreement with Ukraine in full, but left open the timing of the next aid installment as Kiev struggles to calm more than two months of turmoil since President Viktor Yanukovich walked away from a treaty with the European Union.

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Ukraine badly needs the Russian money. Figures compiled by UniCredit bank before the bailout put its gross external financing requirements at $3.8 billion in the first three months of this year alone, including $2.29 billion for gas which is covered by the deal with Moscow.

That rises to $5.5 billion in April-June, including repaying a $1 billion bond which matures then. Altogether the government would need $17.44 billion this year to pay its foreign bills, including for Russian gas.

http://www.reuters.com/article/2014/01/29/us-ukraine-arbuzov-idUSBREA0S0HI20140129

The source of the $15 billion is Russia's rainy day fund - funds originating from windfall profits on oil set aside for public works programs etc. I doubt they will lend it unless they're confident of repayment. Anyone who wants to call this issue blackmail might like to suggest an alternative source of funds instead of just criticising the situation i.e. be constructive. Currently the EU have offered a billion Euros and the IMF have said none at all unless the Ukraine raises the price of gas to consumers.