Recognized and unrecognized Crimea. What did Russia win and what did it lose?
On March 2014, 17, the Crimean parliament declared independence and joined Russia on March 18. After seven years, the United Nations, the European Union, the United States and many other countries have declared the process illegal and imposed sanctions.
Over the course of seven years, Russia has invested heavily in the development of Crimea, and as a result of the creation of a "free economic zone", the Crimean economy has grown 2,5 times, with total annual revenues from $ 1 billion to $ 2,5 billion to $ 3 billion.
According to Bloomberg Economic Analysts, in the five years since the annexation of Crimea, the Russian economy has shrunk by more than 5 percent compared to 2013, or $ 10 billion. This is due to falling oil prices, but also the impact of sanctions on Crimea.
