Russians laughing at sanctions? Pure bluster

[ProSense]

15. Russia Sees Billions Spent on Crimea as Putin Pushes Treaty ...

Russia Sees Billions Spent on Crimea as Putin Pushes Treaty (1)

By Olga Tanas and Anna Andrianova

Russian lawmakers are preparing to ratify a treaty this week to annex Crimea, hailing as a victory the return of the Black Sea peninsula that may require billions of dollars even as the national economy comes under strain.

Parliament plans to finish all legal procedures to accept the breakaway region into Russia this week, Sergei Mironov, leader of the Just Russia party, told reporters today in Moscow.

President Vladimir Putin, facing the weakest economic outlook in four years and forecasts of surging capital outflows, is defying Western threats of sanctions and pressing ahead with plans to absorb Crimea, a predominantly Russian-speaking region that houses the Black Sea Fleet. Putin blamed the West for forcing him into a corner and vowed to protect those of Russian heritage from Ukrainian nationalists. Crimea will need billions of dollars of investment in infrastructure, according to Russia’s Economy Ministry.

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Even before the protests in Kiev turned deadly last month, Russian Deputy Economy Minister Andrey Klepach said capital outflows were increasing and may reach $35 billion in the first quarter, more than half of the $63 billion for all of 2013.

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http://www.businessweek.com/news/2014-03-19/russia-sees-billions-of-crimean-spending-as-putin-pushes-treaty

Investors are fleeing Russia and they are losing billions of dollars
http://www.democraticunderground.com/10024685574