` 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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` Romania to Raise Defence Ministry Budget by $217mn Citing Problems in the Eastern Ukraine Regions ‘

#AceFinanceNews – BUCHAREST – April 28 – Romania will raise the defense ministry’s 2014 budget by $217.41 million, or 0.2 percent of national output, Prime Minister Victor Ponta said Monday.

As tensions continue to build in neighbouring Ukraine, Romania has agreed a fiscal budget deficit target of 2.2 percent of gross domestic product this year under the terms of a 4-billion-euro aid deal led by the International Monetary Fund, Reuters said.

Higher defence spending would raise the ceiling, as would government plans to slash employer taxes to the social insurance budget.

REUTERS – RT News – AP

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