In purely financial terms, probably Russia is the winner. When all the figures are computed in the complex arrangement, some analysts say that Ukraine will be paying Russia about $160 per Mcm for the gas it receives from that country, which is what they wanted in the first place, before Gazprom/Kremlin put its black mask and knuckledusters on.
For RosUkrEnergo and its 'unidentified ultimate owners' - a terrific off-the-books earner for the next few years, so a good result for them.
Ukrainians in general, I guess will feel pleased with themselves for standing up to 'older brother'. The tirades of anti-Ukrainian comment on Russian TV were counterproductive, so 'zero points' for the Kremlin's spin-doctors [again].
Yushchenko emerges with credit, statesman-like, shaking off his reputation as a cautious ditherer, his political opponents in Ukraine somewhat disorientated, so for him, a good result. It will be interesting to see the effects on the next lot of Parliamentary Election opinion polls.
For Turkmenistan, which provides about 1/2 of Ukraine's total gas needs, and which could significantly increase production without too much capital investment, any chance of dealing direct with European customers has now disappeared; Turkmenistan’s gas from now on, is completely and formally controlled by Gazprom, so, a looser.
The biggest looser - Putin, for it is he who was undoubtedly responsible for the thuggish tactics of this week when he tried to 'bounce' Ukraine into a cripplingly expensive deal. The order to turn off the taps on 1st January must have come from the very top - the volte-face when the taps were turned on again within 24 hours - a humiliation, almost a fiasco. He achieved nothing apart from negative press and huge tremors of anxiety in Europe and beyond. His boys in Gazprom have not done a bad deal for him, but he must be hurting bad inside…