Over 760 million rubles. Ports of Crimea and the Black Sea coast of Russia suffered such losses in 2018 due to sanctions.

24 May 2019, 14:48

The ports of the temporarily occupied Crimea suffered multimillion-dollar losses in 2018.

Such negative economic consequences are the result of the sanctions policy of international partners and Ukraine, the press service of the Ministry for Temporarily Occupied Territories and Internally Displaced Persons of Ukraine (MinVOT) reported.

In 2015-2017, the annual income of the “Administration of the Seaports of the Black Sea Basin of the Russian Federation” was from 32 million rubles to 153 million rubles, but already in 2018, according to the Ministry of Labor, the revenues of ports amounted to 359.6 million rubles, and expenses – 1.1 billion rubles. That is, the company has become unprofitable for the first time since 2015, and its losses in 2018 exceeded 760 million rubles.

The losses of the Black Sea Port Administration are one of the main results of a comprehensive, coordinated sanction policy of the EU, the USA and Ukraine.

The Ministry of Labor further noted that not only the ports of the annexed Crimea suffer losses, but also the ports of the Krasnodar Territory of Russia, which are located in Novorossiysk, Sochi, Tuaps, Taman, Gelendzhik and Anapa.

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In 2017, Ukraine imposed sanctions against the branches of the so-called “State unitary enterprise of the Republic of Crimea “Crimean seaports”. And in 2019, a number of sanctions were introduced against Russian legal entities and individuals, in particular, companies that were involved in organizing transportation through the railway and auto-passenger ports Temryuk, Kavkaz and the Kerch ferry.

Earlier, QHA media reported that the Russian economy lost about 150 billion dollars after the annexation of the Crimea.