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Negative Review of Crimea's Absorption Could Cost You $14,000
27.03.2014 18:59
Negative Review of Crimea's Absorption Could Cost You $14,000
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According to Inna Svyatenko, chairman of the security committee of the Moscow State Duma, those who discuss whether or not the residents of Crimea should get state-funded places at universities and colleges, should be qualified as extremists who incite xenophobic sentiment.

      According to the Nezavisimaya Gazeta, the MP regrets security services are not able to impose a full control over bloggers.

      If the move is passed, anyone who dares to challenge the rationale behind Crimea’s absorption or plans to develop it economically could be subject to a fine of 500,000 roubles, or $14,000, or land up in jail for four years.

      There’ve been many concerns about the economic impact of Russia’s move to incorporate Crimea.

      The Russian economy is unlikely to rise above 2 percent in 2014 amid investor uncertainty over the possible impact of sanctions, says the Economic Development Minister.

      According to Alexey Ulyukayev, GDP is expected to grow 1.8-1.9 percent undermined by capital flight worth $100 billion.

      A military invasion of Crimea would cost the Russian economy some three percent of GDP, says Vedomosti.

      Earlier, Russia-IC reported on the possible repercussions of sanctions and investors’ fears on the pace of economic development.

      For example, Bank of America Merrill Lynch forecast that Russia’s GDP would shrink some three percent. The transit of natural gas to European consumers worth $30 billion may be disrupted, too.

      The EU may eventually block the construction of the South Stream pipeline and switch to other energy sources in a move towards an economic boycott.

      Public spending is bound to go up to pay for Crimea’s absorption. The Russian authorities have pledged financial aid to the residents of the autonomy whose budget is facing a $1 billion deficit.


Author: Mikhail Vesely

Tags: Ukraine crisis Crimea    

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