IMF recognizes Crimea as a subject of the Russian Federation

17.11.2018, Washington.

Crimea was recognized as part of Russia in the International Monetary Fund (IMF) European economy review (Regional Economic Outlook. Europe), the Izvestiya newspaper reports November 16.

According to the report, the IMF calculated European economic indicators based on the fact that Crimea belongs to Russia; otherwise, the analysis would not have been reliable.

According to experts, it is a common practice when a territory is recognized by the business community while it is not politically recognized by EU and US. Thus, Alexander Mikhaylenko, a professor at the Department of National Security of the Russian Academy of National Economy and Public Administration (RANEPA), cited the example of Taiwan, which is recognized by the international community as part of China. Nevertheless, Taiwan is de facto an independent state as far as business is concerned, since its impact on the global economy is enormous.

Crimea seceded from Ukraine and reunified with Russia on March 16, 2014 as a result of a legitimate referendum. The Kiev junta did not accept the results and declared that Russia had “occupied” the Crimea. Most EU countries and the US supported Ukraine’s position.

Source: Rossa Primavera News Agency

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