Crimea Attempts Nationalization of Energy Company

Authorities in Crimea are reportedly planing to nationalize the Ukrainian Black Sea Fleet and Chonomornaftahaz.

“The Ukrainian fleet in Sevastopol will be nationalized in full. We are not planning to let their ships go anywhere. We have also cut off the exit of vessels belonging to Chonomornaftohaz", self-proclaimed Crimean Prime Minister Sergey Aksyonov said as reported by Ukrayinska Pravda.

 At the same time, Russia’s President Vladimir Putin met Foreign Minister Sergei Lavrov to discuss proposals to settle the situation in Crimea and Kiev.

The standoff between Russia and the West continues, while Ukraine is struggling to repay debts. Finance Minister Oleksander Shlapak said that the country’s foreign currency reserves are not enough to cover all debt repayments due in 2014.