Russia Said to Weigh $2.8 Billion of Budget Cache for Crimea
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Russia may direct at least $2.8 billion of emergency budget reserves this year to subsidize Crimea, the peninsula it annexed from Ukraine, according to two people with knowledge of the plans.
The government estimates 100 billion rubles ($2.8 billion) to 130 billion rubles are needed to support Crimea and the port city of Sevastopol, home of Russia’s Black Sea Fleet, the people said, asking not be identified as planning is confidential. The amount may swell to 260 billion rubles to raise state pensions and salaries to Russian levels, one of the people said.