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Ukraine's Ministry estimates losses Russia took in captured Black Sea ports due to sanctions

Ministry of Temporarily Occupied Territories informed that the income of the Administration of seaports of Black Sea made $5.6 million, but the expenses made $17.1 million
15:19, 23 May 2019

Open source

In 2018, the ports in the temporarily occupied Crimea and Russia located in the Black Sea, took losses in the amount of over $11.8 million. Ministry of Temporarily Occupied Territories reported that Thursday.

“The analysis of the information the Ministry has shown that in 2018 the income of the Administration of seaports of Black Sea made $5,6 million, but the expenses made $17.1 million,” the establishment reported.

Related: Ukrainian seaport: Balancing between economy and geopolitics

It was noted that the enterprise has become unprofitable for the first time in 2015-2018, and its losses in 2018 made over $11.8 million.

This concerns not only seaports of the temporarily occupied Crimean peninsula – in Yevpatoriya, Kerch, Sevastopol, Feodosiya and Yalta – but also the ports of Russia's Krasnodar Krai, including those located in Novorossiysk, Sochi, Tuapse, Taman, Gelendzhyk and Anapa.

Related: Sevastopol seaport in annexed Crimea became unprofitable

Earlier, 15 sanctions were imposed against affiliates of the so-called “State unitary enterprise of the Republic of Crimea “Crimean seaports” under the President’s decree No. 133/2017.

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