With a display of fireworks in Moscow and Crimea, President Vladimir Putin has signed a law formalizing Russia's takeover of Crimea from Ukraine, despite fresh sanctions from the EU and the US. The European Union's latest measures target twelve people involved in Russia's annexation of the peninsula.
According to Reuters, Crimea may nationalize oil and gas assets within its borders belonging to Ukraine, and sell them off to Russia. Crimea’s Deputy Prime Minister hinted at the possibility that it would take control of Chornomorneftegaz, a Ukrainian state-owned enterprise, and then “privatize” it by selling it to Gazprom.
On February 27, 1954 Pravda published a short announcement on its front page that the Presidium of the Supreme Soviet of the USSR had decreed on February 19 the transfer of the Crimean oblast' from the RSFSR to the Ukrainian Soviet Socialist Republic.
Crimea means more to Russia than the Falklands mean to Britain, Russia's Foreign Minister Sergei Lavrov said on Friday after holding last-ditch talks on the region with his U.S. counterpart John Kerry.
The European Central Bank (ECB) kept on Thursday its benchmark interest rate at its record low of 0.25%, despite fears inflation could get stuck in a danger zone below 1%. The bank slightly raised its forecast for growth to 1.2% in 2014, but dropped its inflation estimate.
Russia, Ukraine and China are being blamed for a failure of plans to protect almost 3 million square kilometers of ocean in Antarctica. After two weeks of discussions behind closed doors, the Conservation of Antarctic Marine Living Resources (CCAMLR) has failed to come to an agreement on new marine reserves.
Following the first-ever detection of African swine fever (ASF)in Ukraine, the United Nations is warning that while control measures appear to have temporarily halted the disease's spread, it has established a firm foothold in the Caucasus and poses an ongoing risk to neighbouring areas.
Sunflower seed production in the European Union, Ukraine and Russia will drop 11.7% to a total of 24.82 million tons this year, from 28.12 million tons a year ago, Hamburg-based oilseed analyst Oil World said on Tuesday.
US Department of Agriculture (USDA) has cut its forecast for global wheat production in 2010-11, but by less than expected. USDA now predicts total output of 643 million tonnes for the current agricultural year, down from its August forecast of 645.7 million.
Wheat futures advanced for the first time in four sessions in Chicago trading after Ukraine, the second-largest exporter in the former Soviet Union last year, said it will probably limit overseas sales, following Russia’s restrictions on trade.