: Russia suspends funding of occupied Crimea

16:19 Apr. 9, 2016

Russia suspends funding of occupied Crimea

People rally to celebrate the second anniversary of Russia's annexation of Crimea just off Red Square in Moscow, Russia, Friday, March 18, 2016. (AP)

Russia temporarily stops financing Crimea

Russia has postponed the funding within the framework of the Federal Target Program  for the development of the occupied Crimea and Sevastopol until 2017 and beyond, according to the Minister of Economic Development, Alexei Ulyukayev, TASS reports.

Read also Putin briefed on collapse of production in Crimea following annexation

"We decided on the shift of the significant sums, so to say, to the right – moving them over to 2017 and the following years. This affected the amount of about RUB 23 billion. In view of this decision, there will be no other shifts," Ulyukayev said.

Read also Russian Court session on ban of Crimean Tatar Mejlis postponed until April 15

According to him, RUB 4.5 billion has been disbursed in the annexed Crimea last year, which is about 20% of the allocated funds under the federal program. "This was due to large reorganizations, etc. Now this problem is completely eliminated," said Minister of Economic Development of the Russian Federation.

Reporting by UNIAN

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