Just a few quick comments:

There is also a strong economic division, though this one is less geographic in nature. As with much of post-Soviet Russia, Ukraine saw the rise of an oligarchical class who quickly captured former state assets, and then got involved in politics to protect their economic gains. While these oligarchs span the political spectrum (indeed, Yulia Tymoshenko is included among their number), they have mostly been a conservative force in Ukrainian politics, fearing that closer integration with the EU could damage their standing. The allegations of corruption surrounding these oligarchs, along with the dire economic situation in Ukraine, have combined to fuel much of the discontent of recent months.
Perhaps conservative is indeed the right word to describe those mostly Eastern robber barons, who would rather conserve the previous status quo as it allows them to corrupt and steal so easily. Keep in mind that most moved in a similar way to their Russian counterparts, snapping up state-owned enterprises and buying monopolies. It is no surprise that most stem from the industrial heartland of Ukraine.

Such a financial outflow would also be politically unacceptable within the EU itself, given the ongoing political fallout from the Greek sovereign debt crisis. Bailing out a non-EU state with European funds would be highly contentious, especially in Germany.

Furthermore, despite the weakened state of Russian finances, Russia is geographically and linguistically much closer to Ukraine, and its trade is far more vital to the health of the national economy than anything the EU or USA has to offer. As such, they cannot expect merely to become Ukraine’s major power patrons, taking over from Russia. Russia will always be a significant influence on Ukrainian society, and this state of affairs must be accepted by the US and European governments to proceed in a constructive manner. No permanent settlement can be secured without Russian interests being considered.
As much as I like the try to show a 'balanced' integration of Russian interest it is important to point out that quite a few EU members, especially the Baltic states have found themselves in a situation with pretty much the same getting written. Russian interest dominated them for centuries and yet they are now firmly part of the EU and even NATO. While Russia is powerful in some regards, it is weak in others and it is quite possible to see the Ukraine within the EU in ten-twenty years.

I would dispute that the Russian trade is much more vital for the Urkaine then the one with the EU. Trade with the European Unions has increased considerably relative to the one with Russia. With closer economic integration and economic development this should increase further. If Ukraine is able to finance the gas it is actually it is actually not in a weak position compared to Russia in which a good part of the budget gets financed by the sale of gas to the EU.

Interestingly, the EU has uploaded a paper dealing with 'Myths' about the EU-Ukraine Association Agreement. I had no time to read it.