The country's - Ukraine's

Hi teachers,

Excerpts:

Ukraine's newly elected president, Viktor Yanukovych, is a twice-convicted felon, backed by shady businessmen and close Moscow. Yet his victory may actually be good news for his country - and for precisely the reason Westerners fear it. While a friendlier relationship with Russia will vex U.S. Cold Warriors, from Ukraine's perspective it's a necessity. Russia is by far the country's biggest foreign investors , and Ukraine's largest industries - steel and aluminum production - depend on Russian gas.

1. Does the country's in the paragraph mean Ukraine's ?

2. If it does, can the sentence start with "Russia is by far Ukraine's biggest foreign investors, and the country's largest industries? Is there a rule about this?

3. Does it's a necessity mean a friendlier relationship with Russia?

Thank you.

Tinanam