The Real Impact of Crimean Sanctions. 2nd Edition

The 2nd edition of the Real Impact of Crimean Sanctions is based on the monitoring results of the joint monitoring group of the Black Sea Institute of Strategic Studies and BlackSeaNews. 

The occupation and subsequent illegal annexation of the Crimean peninsula by the Russian Federation in February-March 2014 and Russia's further aggression against Ukraine have become a turning point in the global history of sanctions. 

Certainly, the use of various restrictive measures in an attempt to coerce a particular state to change its policies is a centuries-old practice. But the problem that we all have been facing since 2014 raises the stakes considerably. It challenges us to answer whether in the 3rd millenium, the civilized world is capable of changing the aggressive policy of a nuclear power, a founder and permanent member of the UN Security Council, without the application of military force. 

The authors hope that the results of our work that has spanned the 6 years of the Crimean occupation and remains ongoing will make a valid contribution to the understanding of the subject.


Crimea Occupation, Sanctions and Blockade 3
Impact of the Sanctions Regime as of 1 February 2020  5
Impact of Sanctions on the Crimean Banking 7
Impact of Sanctions on Maritime Connections with the Occupied Crimean Peninsula 8
Missed Deadlines for the Production of Karakurt Missile Corvettes at the Morye Shipyard in Feodosia 12
The Imposition of U.S. Sanctions against Russian Plants over the Production of Warships in Crimea  14
The Peculiarities of Economic Processes in Russia and Occupied Crimea under Sanctions 18
Russia's Investment in Fixed Capital in Occupied Crimea and Sevastopol 19
What Russian Investment Money is Spent on in Crimea and Sevastopol 21
The Heavily Subsidised Budget Model of Crimea and Sevastopol 22
The Updated "Crimean Sanctions Package" 24
The Policy of Non-recognition of the Attempt to Annex the Crimean Peninsula 26
The Cost of the Occupation to Russia and What Awaits Crimea and Sevastopol 28



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Monitoring of the violations of international sanctions against Russia and the legal regime of the temporarily occupied territory of Crimea and publication of the book is made possible by the support of the International Renaissance Foundation’s European program initiative. The views of the authors do not necessarily reflect the position of the International Renaissance Foundation.


The Crimean Library section on the website has been created with the support of the European Program of the International Renaissance Foundation. The views of the authors do not necessarily reflect the position of the International Renaissance Foundation