Support The Moscow Times!

Russia Says Crimea Lost $23Bln From Ukraine’s ‘Annexation’

Ekaterina Sotova / Flickr (CC BY-NC-ND 2.0)

Russian lawmakers have accused Ukraine of bringing 1.5 trillion rubles ($23 billion) in losses to the Crimean economy in the 23 years that the peninsula was part of independent Ukraine.

The assessment comes from the State Duma’s newly established task force to measure damages under what it labels Ukraine’s “annexation” of Crimea between 1991 — the fall of the Soviet Union — and 2014 — when Russia annexed the peninsula. 

The earliest “most conservative” estimates say that Ukraine’s “annexation” had cost Crimea 1.5 trillion rubles over 23 years, Andrei Kozenko, a Russian Duma deputy from Crimea, was cited as saying late Wednesday.

The figure includes the $100 million per year that Russia spent to maintain a naval base there, as well as the extrapolated difference between Crimea’s revenue under Russia and Ukraine, Interfax cited Kozenko as saying.

“We [also] need to assess the moral damage over the years of Ukrainian occupation of Crimea. For example, we can include infringement of the rights of the Russian-speaking population,” Kozenko said.

Ukraine, meanwhile, has assessed the damage from Russia’s annexation of Crimea at $100 billion.

Crimea became part of the Russian Empire in 1783. It was transferred to the Ukrainian Soviet Socialist Republic in 1954 under Soviet leader Nikolai Khrushchev.

Russia annexed the Black Sea peninsula in 2014 in what it calls a reunification with its historical territory.

… 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