Russia Delivers a New Shock to Crimean Business: Forced Nationalization
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Business in Crimea has taken a beating since the peninsula’s annexation by Russia. Crimea’s tourism industry collapsed, and companies were cut off from vital suppliers and customers in Ukraine. Now comes the latest blow: nationalization.
From bakeries to shipyards, Crimea’s Kremlin-backed government is moving aggressively to take over businesses that it deems “inefficient,” strategically important, or friendly to the government in Kiev.