Date post: | 23-Aug-2014 |
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Ukraine Crisis
By – Apoorva YadavMBA Trainee
Institute of Business Management & ResearchUniversity of Mysore
The Origin & Conquest of Crimea ҉� History of the Crimean Peninsula starts from 5th
century BC ҉� Several Greek colonies were established along its
coast҉�Since then Crimea has endured series of conquests
and invasions by:ΐ Greeksΐ Romansΐ Hunsΐ Kievan Rusΐ Byzantiumΐ Mongolsΐ Crimean Khanate & ΐ the Ottoman Empire
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
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 outraged
҉� 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 &ΐ promoting integration with Russia
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 lease҉�Controversy of the ownership of
a lighthouse on Cape Sarych between Ukraine & Russia still remain
҉�There have been unsuccessful attempts to return Cape Sarych to Ukrainian territory
What Actually Happened?
Rising Tension҉�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"
҉�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 nationΐ Possibility of joining the Russian Federation as
a federal subject - if voters approve to do so in upcoming referendum
Crimea Under Russia
Crimea Under Russia҉�March 16- Officials said that 96% votes in
Crimea supported to join Russia҉�However, the referendum had no international recognition
& no other country had sent its official observers҉�March 17- Crimean parliament declared independence
from Ukraine & requested to join Russian Federation҉�March 18- President Putin declared Crimea a part of Russia҉�All actions of Crimean parliament disregarded by
Ukrainian constitutional court ҉�The United States & the European Union consider the vote
illegal҉� March 27- U.N. General Assembly passed non-binding
resolution declaring Crimea's Moscow-backed referendum invalid
Impact On Global Economy
Impact On Global Economy҉�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
҉�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 bondsΐ German bondsΐ Japanese bonds &ΐ U.K. bonds
Thank You