Since the Soviet Union collapsed and Ukraine regained her independence, Ukraine has become an object of interest of the EU’s foreign policy. Ukraine has immense economic and social potential, and a significant geopolitical location, particularly from the point of view of EU – Russian relations. Good mutual relations were corroborated by the Partnership and Cooperation Agreement between Ukraine and the EU. Signed on June 14, 1994, the Agreement provided for the reinforcement of mutual bonds as well as political and economic cooperation. Over its near twenty years of independence, Ukraine has taken part in several EU initiatives. A current issue at the Ukraine – EU summit, held in Kiev in December 2009, concerned the agreement of association to be drawn up that should replace the present Partnership and Cooperation Agreement between Ukraine and the EU. On account of a number of issues that the EU continues to have reservations about (the insufficient battle against corruption in Ukraine, the slow pace of economic reforms, and the lack of a uniform standpoint of the Ukrainian President, government and parliament) the signing of this Agreement has been postponed until next year.