ADMINISTRATION OF THE BLACK SEA PORTS OF THE RUSSIAN FEDERATION HAVE SUFFERED LOSS OF 750 MLN.RUB AS A RESULT OF SANCTIONS

22.05.2019 | 19:59


The ports of the temporarily occupied Crimea* and the Russian Federation located in the Black Sea Basin suffered loss of more than 760 million rubles in 2018

Such negative economic consequences are the result ofsanctionpolicy ofinternational partners and Ukraine.

Comparing to other years, in particular 2015, 2016 and 2017 annual income of the «Administration of the Black Sea Ports» ranged from32 million to 153 million rubles.

However, thesituation has changed significantly in 2018. 

An analysis of the information available to the MTOT suggests that in 2018 the revenues of the «Administration of the Black Sea Ports» are only 359.6 mln.rubles, however, expenses amounted to 1.1mld.rubles.That is, for the first time in the period from 2015 to 2018, that the enterprise became unprofitable, and its losses in 2018 amounted to more than 760 million rubles.

It should be noted that the «Administration of the Black Sea Ports» includes not only the seaports of the temporarily occupied Crimean peninsula-Yevpatoriia, Kerch, Sevastopol, Feodosiia, Yalta, but also the ports of Krasnodarskii Krai, in particular, those located in the cities of Novorossiisk, Sochi, Tuapse, Taman, Helendzhyk and Anapa.

Unprofitability of the «Administration of the Black Sea Ports» is one of the main results of a comprehensive, coordinated sanction policy of EU, US and Ukraine


It should be reminded that by the Decree of the President dated 15th of May 2017 No. 133/2017, Ukraine imposed sanctions against the branches of the so-called «State unitary enterprises of the Republic of Crimea «Crimean seaports». Decree of the President dated19th of March 2019 No. 82/2019 introduced a number of sanctions against Russian legal entities and individuals; in particular, at the initiative of the MTOT, sanctions were imposed on companies that were involved in organizing rail and auto-passenger transportation through «Temriuk», «Kavkaz» ports, and the Kerchinska ferry.

_______ 

*Sea ports located on the territory of the Autonomous Republic of Crimea (Yevpatoriia, Kerch, Sevastopol, Feodosiia, Yalta) are closed by the Resolution of the Cabinet of Ministers of Ukraine dated 30th of April 2014 No. 578 “Some issues on functioning of the sea and river transport”and according to Order of the Ministry of Infrastructure of Ukraine dated 16th June 2014, No. 255 “On the closure of seaports”



Read all news

ADMINISTRATION OF THE BLACK SEA PORTS OF THE RUSSIAN FEDERATION HAVE SUFFERED LOSS OF 750 MLN.RUB AS A RESULT OF SANCTIONS

22.05.2019 | 19:59


The ports of the temporarily occupied Crimea* and the Russian Federation located in the Black Sea Basin suffered loss of more than 760 million rubles in 2018

Such negative economic consequences are the result ofsanctionpolicy ofinternational partners and Ukraine.

Comparing to other years, in particular 2015, 2016 and 2017 annual income of the «Administration of the Black Sea Ports» ranged from32 million to 153 million rubles.

However, thesituation has changed significantly in 2018. 

An analysis of the information available to the MTOT suggests that in 2018 the revenues of the «Administration of the Black Sea Ports» are only 359.6 mln.rubles, however, expenses amounted to 1.1mld.rubles.That is, for the first time in the period from 2015 to 2018, that the enterprise became unprofitable, and its losses in 2018 amounted to more than 760 million rubles.

It should be noted that the «Administration of the Black Sea Ports» includes not only the seaports of the temporarily occupied Crimean peninsula-Yevpatoriia, Kerch, Sevastopol, Feodosiia, Yalta, but also the ports of Krasnodarskii Krai, in particular, those located in the cities of Novorossiisk, Sochi, Tuapse, Taman, Helendzhyk and Anapa.

Unprofitability of the «Administration of the Black Sea Ports» is one of the main results of a comprehensive, coordinated sanction policy of EU, US and Ukraine


It should be reminded that by the Decree of the President dated 15th of May 2017 No. 133/2017, Ukraine imposed sanctions against the branches of the so-called «State unitary enterprises of the Republic of Crimea «Crimean seaports». Decree of the President dated19th of March 2019 No. 82/2019 introduced a number of sanctions against Russian legal entities and individuals; in particular, at the initiative of the MTOT, sanctions were imposed on companies that were involved in organizing rail and auto-passenger transportation through «Temriuk», «Kavkaz» ports, and the Kerchinska ferry.

_______ 

*Sea ports located on the territory of the Autonomous Republic of Crimea (Yevpatoriia, Kerch, Sevastopol, Feodosiia, Yalta) are closed by the Resolution of the Cabinet of Ministers of Ukraine dated 30th of April 2014 No. 578 “Some issues on functioning of the sea and river transport”and according to Order of the Ministry of Infrastructure of Ukraine dated 16th June 2014, No. 255 “On the closure of seaports”