... Kremlin, potentially calling for the unilateral termination of the Kharkov Agreement by Kiev[2]. On March 16, a referendum arranged by the self-proclaimed Crimean authorities resulted in 96,77% of people voting in favor of the integration of Crimea and Sevastopol into the Russian Federation[3]. The absorption of Crimea became effective on March 18, after President Vladimir Putin had signed with Crimean leaders an agreement later ratified by the Council of the Federation and then the Russian Duma. This vote opened the path ...
... Alexandre Vitko stated in September 2014 that Novorossiysk provides the fleet with another point of basing, particularly relevant for the submarines which activities would be more difficult to be monitored by NATO vessels than if they were based in Sevastopol[13]. Actually, Novorossiysk provides Russia with the ability to not put ‘all the eggs in the same basket’ (i.e. Sevastopol), while developing maintenance infrastructures in Crimea. Indeed, in May 2014, the Ministry of Trade and Industry announced that it would develop three Crimean ...
... support point in Syria). Russian Minister of Defense Sergei Shoigu stated in May 2014 that 48 military assets had already been built on Russia’s Caucasian shores according to this program before adding that due to the integration of Crimea to the Russian Federation, the funds should be reallocated to Sevastopol[6]. However, the construction of the brand new naval base in Novorossiysk, initially slated to potentially replace Sevastopol, will be completed. Besides, the reparation and the modernization of Crimean military infrastructures (naval bases,...
... well as on Russia’s economic growth.
What will be the Impact on Russia’s Economy?
Beyond economic sanctions adopted by most of the Euro-Atlantic community against Russia due to the Ukrainian crisis, the integration of the peninsula and Sevastopol to the Russian Federation is likely to have a substantial cost for Russia’s economy in the short and middle term.
Most of the Russian growth forecasts predicted in early 2014 had to be reassessed in light of the integration of Crimea to the Russian Federation,...
