Support The Moscow Times!

Russia Approves $4.7 Bln Investment for Crimean Infrastructure and Tourism


The Russian government on Monday approved an additional $4.7 billion in investments on infrastructure and tourism in the annexed Crimean peninsula over the next three years.

Crimea has received large cash injections from Moscow since 2014, when Russia annexed the Black Sea region from Ukraine. In total, an estimated 878 billion rubles ($13.3 billion) is expected to go toward improving Crimea’s roads and railways, as well as to prop up its tourism sector, between 2015 and 2022.

The Russian government will invest 309.5 billion rubles ($4.7 billion) in the last three years of the Crimean development program between 2019 and 2022, according to an update published on the cabinet’s website.

“We’re sending almost half the amount this year,” Prime Minister Dmitry Medvedev said in a televised meeting.

Medvedev said the investment program is “an extension of old work from 2015.”

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more