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Ukraine crisis


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Ukraine and Russia are under crisis over Crimea

Published in: News & Politics
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Ukraine crisis

  1. 1. By – Apoorva Yadav MBA Trainee Institute of Business Management & Research University of Mysore
  2. 2. The Origin & Conquest of Crimea ҉ History of the Crimean Peninsula starts from 5th century BC ҉ Several Greek colonies were established along its coast ҉Since then Crimea has endured series of conquests and invasions by: ΐ Greeks ΐ Romans ΐ Huns ΐ Kievan Rus ΐ Byzantium ΐ Mongols ΐ Crimean Khanate &
  3. 3. 1783 • Crimea Annexed by the Russian Empire 1921 • Crimean Autonomous Soviet Socialist Republic was created 1945-54 • This Republic of Crimea became a province of Russia 1991 • Crimea had status of Autonomous Republic within Ukraine 2014 • Crimea Annexed by the Russian Federation
  4. 4. And. . . ҉Russia pledged to uphold the territorial integrity of Ukraine in a memorandum, also signed by the US & UK ҉Russian President Boris Yeltsin & Ukraine's Leonid Kravchuk split the Soviet Black Sea Fleet between: ΐ Russia & ΐ The New Ukrainian Navy ҉On 14 October 1993: ΐ the Crimean parliament established the post of President of Crimea & ΐ Agreed the quota of Crimean Tatars (who were deported out as a punishment of supporting Nazis) representation in the Council to 14 ҉The chairman of the Tatar Mejlis, Mustafa Abdülcemil was
  5. 5. ҉ Next, the Crimean Tatar leader, Yuriy Osmanov was murdered ҉ Series of assassinations & attacks on Tatar community & Ukrainian officials took place ҉ On 30 January 94, the pro-Russian Yuriy Meshkov was elected President but he faced conflicts with parliament ҉ On 8th Sept. Crimean parliament degraded the President's powers to the head of executive only ҉ On 17 March 95, Ukraine intervened, scrapping the Crimean Constitution and removing Meshkov for: ΐ his actions against the state &
  6. 6. Post Ukraine’s Annexation Over Crimea ҉After the Treaty of Friendship, Cooperation, & Partnership in 1997, Moscow recognized Ukraine's borders & territorial integrity ҉Russia also accepted Ukraine's sovereignty on Crimea & Sevastopol ҉ Russia was to receive ΐ 80% of the Black Sea Fleet & ΐ Use of military facilities in Sevastopol on 20yr lease ҉Controversy of the ownership of a lighthouse on Cape Sarych between Ukraine & Russia still remain ҉There have been unsuccessful attempts to return Cape
  7. 7. What Actually Happened?
  8. 8. Rising Tension ҉September 2008- Ukrain’s Foreign Minister Volodymyr accused Russia of giving out Russian passports in Crimea ҉January 2009- Nalyvaychenko, acting head of Security Service Ukraine started criminal proceedings against pro- Russian association ҉24 August 2009- anti-Ukrainian demonstrations held in Crimea by ethnic Russian residents ҉Crisis unfolded in Feb 2014 after Ukrainian revolution & the interim appointment of Yatsenyuk Government ҉Russia opposed the new Acting President of Ukraine, Oleksandr Turchynov as "self-proclaimed“ in a "coup d'etat"
  9. 9. ҉23 Feb- The law on languages of minorities is abolished, including Russian ҉26 Feb- Thousands of pro-Russian & pro-Ukraine protesters clashed in Simferopol in front of parliament ҉ March 11: After disagreements with Ukraine, the Crimean Parliament & City Council of Sevastopol adopted a resolution: ΐ To show intention to declare themselves independent as united nation ΐ Possibility of joining the Russian Federation as a federal subject - if voters approve to do so in upcoming referendum
  10. 10. Crimea Under Russia
  11. 11. Crimea Under Russia ҉March 16- Officials said that 96% votes in Crimea supported to join Russia ҉However, the referendum had no international recognition & no other country had sent its official observers ҉March 17- Crimean parliament declared independence from Ukraine & requested to join Russian Federation ҉March 18- President Putin declared Crimea a part of Russia ҉All actions of Crimean parliament disregarded by Ukrainian constitutional court ҉The United States & the European Union consider the vote illegal ҉ March 27- U.N. General Assembly passed non-binding resolution declaring Crimea's Moscow-backed referendum
  12. 12. Impact On Global Economy
  13. 13. Impact On Global Economy ҉The Ukrainian economy is going through a balance of payments adjustment & will witness heavy loss due to the Crimea Crisis ҉IMF bailed out $17 billion to Ukraine but govt. is looking at tight spending this year ҉Russian stock market is down 20% this year & IMF forecasted GDP fall from 1.3%-0.2% in 2014 ҉A third of Europe’s gas comes from Russia, thus the European Union can be at risk ҉Russia & Ukraine are suppliers of energy, palladium, nickel, titanium & grain risking supply chains of companies using these materials
  14. 14. ҉Troubles in Ukraine will hurt Russian banks, which have leant heavily to Ukraine ҉Automakers in Germany will be heavily affected, since their manufacturing takes place in Russia ҉More sanctions from US will put Russia into deep recession hitting consumers goods, technology & the financial sector ҉Russia depends on European imports to keep its stores filled ҉On the other hand uncertainty in global markets could boost demand for: ΐ U.S. government bonds ΐ German bonds ΐ Japanese bonds & ΐ U.K. bonds