` Law on the Functioning of of the `Financial System ‘ of ` Crimea ‘ takes Affect today Friday 4 2014 ‘

#AceFinanceNews – MOSCOW – April 04 – The federal law on the functioning of the financial system of Crimea on Friday took effect. It structures the work of the regional credit institutions in accordance with the Russian regulations.

The Crimean financial system at first will be based on the local banks, and then the key credit institutions, working across Russia will come to the sector.

The Crimean financial establishments so far have been allowed to continue their operation if they pass state registration before the end of the year and ensure the lower limit of own capital at 300 million roubles.

The Russian Central Bank (CBR) will control the interest rate on deposits, set the ceiling of tariffs on bank transactions. The operation of all currency exchange offices will be brought in line with the general federal standard by January 1, 2015.

All issues of securities in Crimea are subject to inclusion in the unified state register.

Also, the circulation of shares that are not denominated in roubles is terminated.

Russian and Crimea News

#AFN2014

#crimea, #crimean, #moscow, #russia, #russian, #russian-central-bank-cbr

` Sanctions take their Toll as `Ukraine’ has Stopped `Supplying Sugar’ to the Crimea and Central Asia ‘

#AceFinanceNews – KIEV – April 03 – Ukraine has stopped supplying sugar to Crimea, Nikolay Yarchuk, the head of Ukraine’s national association of sugar producers, Ukrsakhar, told journalists on Thursday.

The country has “lost the Crimean market,” estimated at about 100,000 tonnes of sugar, Yarchuk said.

He noted that Ukraine also suspended sugar export to Central Asian countries over some difficulties with transportation through Russian territory.

“We have stopped exporting sugar to Central Asia as the transit of our goods through Russia was suspended,” Yarchuk said.

According to Ukrsakhar’s data, Ukraine exported about 140,000 tonnes of sugar from September 2012 to August 2013.

#AFN2014

#asia, #crimea, #crimean, #kiev, #russia, #russian, #sugar, #ukraine

` 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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#ans2014, #black-sea, #bosco, #crimea, #crimean, #donetsk, #kharkov, #kiev, #moscow, #odessa, #russias, #russian, #russian-federation, #sochi, #ukraine, #ukraines, #yalta

` Trading in the Crimea will be a ` Game ‘ of ` Two Halves ‘ either Good for Russia or Great for Crimea ‘

#AceFinanceNews – SIMFEROPOL,- March 26 – Andrei Belyaninov, the head of the Russian Federal Customs Service, said on Wednesday that the geography of Russia’s foreign trade could change thanks to Crimean ports.

“I am sure that Russia will have new partners because it has obtained a great number of ports together with Crimea’s incorporation.

They include two deep-water ports like Sevastopol and Yevpatoriya,” Belyaninov said in an interview with Itar-Tass and CrimeaInform news agencies after his visit to the Crimean peninsula.

Belyaninov said the trade with Russia accounted for a huge share in Crimea’s foreign trade.

Those figures automatically fell out of Crimea’s foreign trade statistics after the peninsula’s incorporation into Russia.

The Federal Customs Service chief noted a temporary decline in Crimea’s trade with other foreign partners who were watching how the political situation was unfolding on the peninsula.

“It is absolutely clear that Crimea is Russian and will remain such forever.

So the question when trade is going to reach its former volumes is just a matter of time,” Belyaninov said.

He found it hard to say what trade volumes could go through the Crimean customs in a short-term perspective.

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#crimea, #crimean, #russia, #russian-federal-customs-service, #sevastopol

` Russian Food Companies Stand Prepared and Ready to Deliver Food Products to `Crimean Trading Networks ‘

#AceFinanceNews – SIMFEROPOL – March 21 – Over 200 Russian companies are ready to deliver food products to Crimean trading networks.

These are essential foods such as cereals, vegetables, melons and gourds, meat and meat products, eggs, bread and baked products, wheat flour, vegetable oil, spices, canned meat and fish, and tea, says a report of the Ministry of Economic Development and Trade of the Republic of Crimea.

The suppliers mentioned include Wimm-Bill-Dann, Petelinka, Rusagro Group of Companies, Russkoye more, Mistral.

There is no shortage of food products in local shops so far, and these are preventive measures, Irina Prokhorenkova, the first deputy minister of economic development and trade of the Republic of Crimea, told Itar-Tass.

She recalled that the Supreme Rada (parliament) of Ukraine on Thursday passed in the first reading the bill “On the legal regime to ensure the rights and freedoms of citizens on the occupied territories of Ukraine”. “If this document is passed in the final reading, Crimea will be cut off from Ukraine.

The borders will be blocked; export and import and the travel to and from Crimea will be restricted,” she said. “So it will be necessary to supply food products to Crimea from the mainland part of the Russian Federation,” the deputy minister noted.

What is more, Prohkhorenkova added, Crimean producers will not be able to deliver their products to other Russian regions overland, via Ukrainian territory, and will have to rely on transportation by sea.

The deputy minister has said prices in Crimean stores now rose slightly, by five to ten percent. “We follow the situation with prices daily,” Prokhorenkova stressed.

Russian News and Product Related Sources.

#AFN2014

#crimean, #ministry-of-economic-development-and-trade-of-the-republic-of-crimea, #russian, #simferopol

#AceFinanceNews The Russian rouble will officially adopted in…

#AceFinanceNews – The Russian rouble will officially adopted in Crimea on March 24, Crimean State Council (parliament) Chairman Vladimir Konstantinov said on Thursday, March 20.

“The rouble is already here.

All operations will be carried out in roubles from Monday March 24 .

Payments, pensions and salaries will be paid in roubles,” he added.

Related News – http://wp.me/pzTwj-2IQ

AFN2014

#afn2014, #crimea, #crimean, #rouble, #russian

#AceWorldNews The Crimean parliament has announced the Russian…

#AceWorldNews The Crimean parliament has announced the Russian Rouble will become the second official currency of Crimea and will be circulating alongside the Hryvnia until it is withdrawn in 2016.

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#crimea, #crimean, #hryvnia, #rouble, #russian

#AceFinanceNews Crimean residents should not face any additional…

#AceFinanceNews Crimean residents should not face any additional requirements and financial expenditure when obtaining Russian citizenship, Deputy Speaker of the State Duma (lower house of Russia’s parliament) Sergei Zheleznyak told reporters on Monday. The bill, simplifying the admission of a new entity to the Russian Federation, was submitted to the Duma by members of the A Just Russia faction.

Referring to the bills on a simplified procedure for getting Russia’s citizenship, the deputy speaker noted that “all the factions will support the priority consideration of these bills.” “We will certainly support the idea that the procedure of getting Russian citizenship by Crimean residents should not entail an additional burden for them,” Zheleznyak said.“They [Crimean residents] should get it [Russian citizenship] without any additional requirements or financial expenditure,” he stressed. According to him, the faction had not determined its position on the bills so far. “We are awaiting the end of the dispatch in order to decide not on the basis of that or other authorship, but based on the degree of their development in the legal sense,” Zheleznyak said. #AFN2014

#crimean, #russian

` Crimea (autonomy seeking independence from Ukraine) hope that ` Ukrainian Banks will not block Crimean Residents’ Accounts.

#AceWorldNews – SIMFEROPOL, The authorities of Crimea (autonomy seeking independence from Ukraine) hope that Ukrainian banks will not block Crimean residents’ accounts.

Otherwise, the autonomy’s government will have to sell Ukrainian state property to make up for these losses, Crimean Prime Minister Sergei Aksyonov said on Saturday, March 15.

He stressed that the Crimean authorities “do not touch by any means” Ukrainian banks’ branches on the peninsula. However, “our main task is to return deposits to people… and if Ukrainian banks do so, that will be one kind of situation.

If they don’t, then we will sell Ukraine’s property to compensate people [for their losses],” he said.

The prime minister reiterated that private property and banks would not be nationalised in Crimea.

“We will only make the decision on health resorts, real estate and other property owned by the Ukrainian state.
This issue will be addressed by a working group after the referendum [on Crimea’s status to be held on March 16,” Aksyonov said.

Much will depend on “how the state of Ukraine acts,” he said. If the Ukrainian authorities cut off electricity or take other steps against Crimea, its authorities will regard this as an act of sabotage, Aksyonov said.

“Future decisions on Ukraine’s real estate [on the peninsula] will depend on that,” he said. The authorities of Crimea (autonomy seeking independence from Ukraine) hope that Ukrainian banks will not block Crimean residents’ accounts.
Otherwise, the autonomy’s government will have to sell Ukrainian state property to make up for these losses, Crimean Prime Minister Sergei Aksyonov said on Saturday, March 15.

He stressed that the Crimean authorities “do not touch by any means” Ukrainian banks’ branches on the peninsula. However, “our main task is to return deposits to people… and if Ukrainian banks do so, that will be one kind of situation. If they don’t, then we will sell Ukraine’s property to compensate people [for their losses],” he said.

The prime minister reiterated that private property and banks would not be nationalised in Crimea. “We will only make the decision on health resorts, real estate and other property owned by the Ukrainian state. This issue will be addressed by a working group after the referendum [on Crimea’s status to be held on March 16,” Aksyonov said.

Much will depend on “how the state of Ukraine acts,” he said. If the Ukrainian authorities cut off electricity or take other steps against Crimea, its authorities will regard this as an act of sabotage, Aksyonov said. “Future decisions on Ukraine’s real estate [on the peninsula] will depend on that,” he said.

Itar-Tass – Reuters – News Sources

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#acefinancenews, #autonomous-ukrainian-republic-of-crimea, #crimea, #crimean, #itar-tass, #reuters, #russian-crimean-prime-minister-sergei-aksyonov, #ukrainian