Putin urges new Marshall Plan for Middle East to see recovery and growthRussian Politics & Diplomacy October 27, 17:30
Zakharova slams Latvia’s crusade against historical memory as harmful to kids’ educationRussian Politics & Diplomacy October 27, 17:22
Russian diplomat rejects Kiev reports on armed police mission in DonbassRussian Politics & Diplomacy October 27, 17:07
Lavrov: Russian leaders need no one’s permission to visit CrimeaRussian Politics & Diplomacy October 27, 17:03
Vladimir Putin at Valdai Club session in Sochi: live streamRussian Politics & Diplomacy October 27, 16:36
NATO battalion at Russian border to get German tanks — defense ministryMilitary & Defense October 27, 16:31
Foreign Ministry offers consular assistance to Russian detained in PhilippinesRussian Politics & Diplomacy October 27, 16:08
Russian, Chinese, and Saudi physicists sharpen vision of photodetectorsScience & Space October 27, 16:02
Russian diplomat concerned over worsening situation in MosulRussian Politics & Diplomacy October 27, 15:57
MOSCOW, March 31. /TASS/. The Russian economy’s total losses from Crimea’s reintegration are estimated at $150-200 billion over 3-4 years, ex-Finance Minister Alexey Kudrin said on Tuesday.
Kudrin made his statement at a round table discussion held at TASS news agency on the fifteenth anniversary of Vladimir Putin's election as Russia's president.
"During 3-4 years, this figure may reach from $150 billion to $200 billion," Kudrin said. "These are indirect and direct losses in aggregate. This is a very approximate estimate but this is what it will perhaps be, in my view," the expert added.
Russia’s indirect losses from reintegrating Crimea include Western sanctions and a changed attitude to the Russian economy, the ex-finance minister said.
Direct losses are related to financial restrictions imposed by Western sanctions, as well as "direct costs Russia is bearing."
Crimea’s reintegration will cost Russia about $6-7 billion a year, Kudrin said.
Crimea used to be part of Russia from 1784 until 1954 when Soviet leader Nikita Khrushchev handed it over to the Ukrainian Soviet Socialist Republic in a voluntaristic act. Crimea remained part of independent Ukraine after the USSR collapsed in 1991.
A people’s referendum was held in Crimea on March 16, 2014, in which most people voted for reuniting with Russia. On March 18, 2014, President Putin signed a decree on Crimea’s integration into Russia.