` Russian Defence Ministry Planning to Deploy Additional Forces in Crimea under $2.5 Billion Programme ‘

#AceFinanceNews – MOSCOW – May 06 – The Russian Defence Ministry is planning to deploy additional forces in Crimea as part of beefing up the Black Sea fleet under a $2.5 billion program. The need for new deployment emerged after the formerly Ukrainian peninsula joined Russia.

“Before year’s end we will form new units of air defence and marine troops at the sites of our fleet’s deployment,” Defence Minister Sergey Shoigu said Tuesday. “The fleet will receive new submarines and surface ships of new generation this year. This requires our attention.”

The minister stressed that the Navy beef-up program for the Black Sea fleet was extended due to Crimea, the fleet’s base, becoming part of Russia in March. The ministry plans to spend more than $2.4 billion for the purpose by 2020.

The announcement of deployment plans comes after Russia voiced concerns of the build-up of NATO forces in Eastern Europe and the Black Sea. The alliance deployed aircraft and warships as well as ground troops, saying it was needed to instil confidence in its members like Poland, Romania and the Baltic states.

RT

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` Crimea Requires $3-5 Billion US-Dollars to Achieve Energy Self-Sufficiency according to RFM Yuri Prodan ‘

#AceFinanceNews – KIEV- April 03 – Crimea will need 3-5 years and almost 5 billion U.S. dollars to achieve energy self-sufficiency, parliament-appointed Energy and Coal Industry Minister Yuri Prodan said.

“This is a very complex issue. Crimea is dependent in terms of energy, of course. The autonomy depends on the Ukrainian energy system by 90 percent, and if the ties are broken, the peninsula will face serious energy problems,” he told the Government Courier on Thursday, April 3.

He noted that the question of energy self-sufficiency “will be settled after the adoption of the law on temporarily occupied territories”.

The construction of new power generation capacities for Crimea will cost about 90-100 billion roubles, Russian Energy Minister Alexander Novak said earlier this week.

“On the average, we think that it will cost 1,500-2,000 U.S. dollars to build one kW of generation capacities. So 1,320 MW may cost 90-100 billion roubles at the current exchange rate,” the minister said.

He said natural gas for power generation in Crimea might come from the South Stream gas pipeline to pass by along the Black Sea bottom.

“These will most likely be power plants working on the gas which is extracted here in Crimea and the gas which can be taken from South Stream,” he said.

Crimea’s gas producing company Chernomorneftegaz plans to extract over two billion cubic metres of gas in 2014, which is 15 percent more than the peninsula needs, the CrimeaInform news agency said.

Russian and Crimea News

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` Bosco Russia’s Leisure and Sportswear Outfitter’s Closing All 6 Stores Operating in the Ukraine and Crimea ‘

#AceFinanceNews – MOSCOW – April 01 – Sochi Olympic kit and leisure sportswear outfitters, Russia’s BOSCO stores are withdrawing from the markets of Ukraine and Crimea, representatives told (Tass) on Tuesday.

A store executive based in Crimean Yalta could not say what had prompted the decision to close the store now located in Russia since Crimea’s accession to the Russian Federation.

All six stores operating in Ukraine and in Crimea will be closed.

There are two boutiques in Kiev, others in the cities of Kharkov and Donetsk in Ukraine’s mostly Russian-speaking east , and in the Black Sea city of Odessa in Ukraine’s south.

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` Grain Prices Rise due to the Instability in the Ukraine and Unfavourable Weather Conditions in the US ‘

#AceFinanceNews – MOSCOW – March 24 – World grain prices continue to rise because of unfavourable weather conditions in the United States, as well as due to the importers’ apprehension over the possible drop in grain shipping from Black Sea ports in connection with the in-stable situation in Ukraine, Russia’s Agriculture Ministry said in a monitoring report on the situation on the agro-industrial markets.

Over the third week of March, soft wheat average prices in the United States rose by 5% to 300 US dollars per tonne.

The previous week, the prices had already gone up by 10 dollars (3.6%) to 286 dollars per tonne.

Meanwhile, the Russian grain export in 2013-2014 agricultural year (since the beginning of July 2013) reached 19.7 million tonnes, increasing by 41% compared with the previous similar period.

Russian Commodity News

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