Ukraine parliament ok’s free trade zone in Crimea
The Ukrainian parliament has passed a law on the creation of a free trade zone in Crimea nearly five months after the peninsula declared independence from Ukraine to join Russia.
On Tuesday, 227 lawmakers at the Ukrainian parliament approved a law on the establishment of a free trade zone in Crimea for ten years.
On March 16, Crimea’s largely Russian-speaking residents voted in a referendum to break away from Ukraine and join Russia.
More than 96 percent of participants voted for joining Russia in the referendum that created controversy in Europe and beyond.
The Ukrainian government, the United States and the European Union rejected the referendum and condemned the joining of Crimea to Russia.
On March 21, Russian President Vladimir Putin signed into law the documents officially making Crimea part of the Russian territory. Putin said the move was carried out based on international law.
Located on the northern coast of the Black Sea, the Crimea peninsula is of strategic value.
Crimea is also of high importance economically as the peninsula is home to several natural gas fields onshore and offshore, all connected to Ukraine’s pipeline system.
AR/NN/HRB