Crimea joining Russian Federation

[lordtiberius]

What a heartless dweeb. . . .

Wayne, what does your wife think of all this?

[Wayne]

Here is some more information that I found:

Banks are packing up and leaving Crimea as Kiev prepares sanctions against Ukrainian companies operating on the Black Sea peninsula.
Ukraine’s parliament is due to approve Tuesday legislation that will prohibit any state-regulated economic activity, including banking, in Crimea. Kiev will provide companies with licensing and certification, and keeping branches open in Crimea puts them at risk.
The threat from Kiev has so far worked on banks, as the new legislation will punish any differences between Russian and Ukrainian banking laws.
More than 20 Ukrainian banks with 1,022 branches were operating in Crimea before it voted to leave Ukraine and join Russia. The National Bank of Ukraine said the banking sector was worth between $1.7-1.9 billion (20-22 billion hryvnia).
As of April 17, Alfa Bank Ukraine, which is part-owned by Russian billionaire Mikhail Fridman, will close its doors, as it can no longer legally operate under the new legislation.
“Alfa Bank no longer can work within the legal framework of the new Ukrainian legislation, and doesn’t have a legal basis for continued operations and provision of banking services in the territory of Crimea,” the bank’s press service said.
Bank customers will be able to close their accounts and return deposit funds, and can still use the bank’s other Ukrainian branches.
Ukraine’s largest bank by assets, Privatbank, shut down operations in Crimea last month, closing all 339 branches on the peninsula. The bank had invested more than $300 million in the region and has $700 million in loans.
The First Ukrainian International Bank, owned by Ukrainian oligarch Rinat Akhmetov, and Ukrainian state-owned Ukrgasbank will halt operations from April 17.
The Crimean branch of Bank of Cyprus will close April 16, part of an already agreed sale to Fridman’s Alfa bank. The sale was first estimated to fetch around 225 million euro, will likely be cheaper after the turmoil following the overthrow of President Viktor Yanukovich in February. The Bank of Cyprus has 39 branches operating in Ukraine, and three in the Crimean cities of Simferopol, Sevastopol, and Yalta.
Western countries which do not recognize the legality in Crimea’s referendum to join Russia have also withdrawn from the region.
On April 15, Austria's Raiffeisen Bank International closed the last six of 32 branches in Crimea, Reuters reported.
Enter Russia
Crimea’s banking overhaul expects to see all Ukrainian banks closed by the end of April, and more than 250 Russian banks open, according to Crimea's First Deputy Prime Minister, Rustam Temirgaliyev.
Russia’s fifteenth largest lender, Bank Rossiya, which has been sanctioned by the US, will open branches in Crimea, according to a report by Kommersant. The bank, which was blocked by Visa and Mastercard, has said its operations will focus on the domestic market, and primarily use the ruble.
Crimea is currently transition its currency from the hryvnia to the ruble.
Sberbank and VTB have already divested from Crimea. Russia’s second biggest lender VTB closed down nearly 75 percent of its Crimea offices, and chief Andrey Kostin said Ukrainian branches are a priority for them.
Sberbank passed some of its offices on the Black Sea peninsula to Russia’s National Commercial Bank (RNCB), Russia’s 609th largest, which has decided to move into the market.
The Moscow-based bank, as of January 1, 2014, held assets of $56 billion, according to RIA Ratings, which tracks Russian banking statistics.
 McDonald's, Oil Not only banks are shutting down. On April 4, McDonald’s announced it has closed its restaurants in Crimea, but said the move had "nothing to do with politics."
Lukoil, Russia’s largest independent oil company, owns 7 petrol stations as well as oil storage in Crimea, but hasn’t yet made a public comment on its plans.
In Ukraine, Rosneft, Russia’s biggest oil monopoly, has 41 petrol stations in mainland Ukraine. The company’s CEO, Igor Sechin, has previously said the company will “defend assets” in Ukraine.

 

[The Natural]

My Crimean wife say People in Crimea With deposits in Ukrainian lost their Money and that the Russian state will cover a certain percentage of the stolen Money, she don't know how much. As for the pension of my MIL who's been With us for 9 months, that is also gone.

[GQBlues]

My Crimean wife say People in Crimea With deposits in Ukrainian lost their Money and that the Russian state will cover a certain percentage of the stolen Money, she don't know how much. As for the pension of my MIL who's been With us for 9 months, that is also gone.

Sorry to hear about this.

But I am left to wonder regarding Crimean bank accounts. I am curious why, considering there was more than ample time prior to the referendum, that people did not take their monies out of the bank to avoid this (not about the pension)?

[The Natural]

But I am left to wonder regarding Crimean bank accounts. I am curious why, considering there was more than ample time prior to the referendum, that people did not take their monies out of the bank to avoid this (not about the pension)?

That's a very good question. Wifey say that the husband of her sister (they live in Moscow) did take out their Money before it was too late. I told my wife at the start they should get the Money out, but I guess the husband is smart enough to have figured that out by himself.

MIL must set up a New bank account With a Russian bank when she goes back to Crimea shortly. Putin said in his 4 hour Q&A a few weeks back that the pensions will gradually tripple from that of the former Ukrainian Level of about $ 130 in the case of my MIL. We will of course send her off With Euros so that she will suffer no economic hardships. I just hope the banking situation normalize over time so that we can send her some aid later on, via bank transfers.

[Wayne]

People in Crimea were trying to take their money out of the banks. There were extremely long lines at the banks and still are.  There was a very small daily limit that you could withdraw.
 
The Ukrainian bank told my wife that she would have to go to Kiev in person to obtain her money.

[The Natural]

People in Crimea were trying to take their money out of the banks. There were extremely long lines at the banks and still are.  There was a very small daily limit that you could withdraw.
 
The Ukrainian bank told my wife that she would have to go to Kiev in person to obtain her money.

This makes sense. I guess it was a bank run and if that happens even in the west, they cannot produce all the money and tell people to come back another day or declare a bank holiday. The deposits are of course only guaranteed if not too many people at the same time withdraw their money. In addition to that, the situation in Crimea proved an opportunity for the banks to outright steal money from depositors.

Just one of the good reasons to keep a silver stash privately, right?

[stilllooking]

So which is true? people lost all their Ukrainian (see post The Natural) or people need to go to Kiev to get their money (see post Wayne).

There is quite a difference between the two as one implies either the banks, the Russian government or the Ukrainian government has taken all the money, the other implies that the Ukrainian government has told the banks (or the banks have decided) that to prevent a run people can not just go and take their money from the bank in Crimea (probably prudent to save the banking system from collapse and to prevent a lot of Ukrainian being converted into Russian in a very short space of time).

[JayH]

What a heartless dweeb. . . .

Wayne, what does your wife think of all this?

A lot of people on the Crimea are saying very little about the situation-- with good reason!! For those old enough to know how it was in the Soviet era-- and younger people got the message fast. A lot of social media pages eg  VK,Facebook etc-- got altered very fast when the writing was on the wall.

My Crimean wife say People in Crimea With deposits in Ukrainian lost their Money and that the Russian state will cover a certain percentage of the stolen Money, she don't know how much. As for the pension of my MIL who's been With us for 9 months, that is also gone.

That is simply not true but another piece of nonsense propaganda.To state the bleeding blind obvious-- the money is NOT stolen from accounts-- but because of Russian stupidity and incompetence the Ukrainian banks could not continue operating.If an account holder could go to the bank outside of the Crimea-their account will operate as usual.Further to that--some Ukrainian banks are now trying to set up reprocitical arrangements for account holders with Russian owned banks on the Crimea.


Wayne--  you have repeatedly posted incorrect information  eg Ukraine cut of electricity/water to Crimea-that was not correct.
In this case--the trains still run .FULL STOP--- what they do not do is run with people on them or efficiently. Thanks again to Russian incompetence and stupidity( apart from being there in the first place!!)-there are long hold ups in crossing the "border". eg  Ten passengers only and the train took over 20 hours to clear the "border"!!  That was entering the Crimea and I believe they are equally obtuse in leaving--that also applies to roads.

[The Natural]

That is simply not true but another piece of nonsense propaganda.To state the bleeding blind obvious-- the money is NOT stolen from accounts-- but because of Russian stupidity and incompetence the Ukrainian banks could not continue operating.If an account holder could go to the bank outside of the Crimea-their account will operate as usual.Further to that--some Ukrainian banks are now trying to set up reprocitical arrangements for account holders with Russian owned banks on the Crimea.

Yeah, very likely, haha. Just admit it, your neo-nazi friends and their allied ones  seized the opportunity to steal money and blame the evil Russians. You expect an old baboska to go to Kiev to get her tiny pension?

[fathertime]

That is simply not true but another piece of nonsense propaganda.To state the bleeding blind obvious-- the money is NOT stolen from accounts-- but because of Russian stupidity and incompetence the Ukrainian banks could not continue operating.If an account holder could go to the bank outside of the Crimea-their account will operate as usual.Further to that--some Ukrainian banks are now trying to set up reprocitical arrangements for account holders with Russian owned banks on the Crimea.


Wayne--  you have repeatedly posted incorrect information  eg Ukraine cut of electricity/water to Crimea-that was not correct.
In this case--the trains still run .FULL STOP--- what they do not do is run with people on them or efficiently. Thanks again to Russian incompetence and stupidity( apart from being there in the first place!!)-there are long hold ups in crossing the "border". eg  Ten passengers only and the train took over 20 hours to clear the "border"!!  That was entering the Crimea and I believe they are equally obtuse in leaving--that also applies to roads.

According to JayH, Wayne and the Natural don't know what they are talking about....but the Honorable Judge JayH does.     I thought Wayne and The Natural were posting info they were getting from people directly impacted though? 


Fathertime! 

[LiveFromUkraine]

Is the pensions a "Crimea" thing or is this a standard operation for every Ukrainian living in a different country?

[lordtiberius]

Sorry to hear about this.

But I am left to wonder regarding Crimean bank accounts. I am curious why, considering there was more than ample time prior to the referendum, that people did not take their monies out of the bank to avoid this (not about the pension)?

Blame the victim!

Maybe because they listened to blockheads like you who said their lives would be better under Putin.

[lordtiberius]

According to JayH, Wayne and the Natural don't know what they are talking about....but the Honorable Judge JayH does.     I thought Wayne and The Natural were posting info they were getting from people directly impacted though? 


Fathertime!

And your still denying that Russia has invaded Ukraine . . .

[fathertime]

And your still denying that Russia has invaded Ukraine . . .

Let me help you state my position correctly.  I do deny that Russia has invaded MAINLAND Ukraine, because they haven't....You believe they have invaded. 


And? 


Fathertime!   

[ML]

There is quite a difference between the two as one implies either the banks, the Russian government or the Ukrainian government has taken all the money,

It seems some here don't realize that banks have only a tiny fraction of deposits held as actual cash.  Banks lend out the majority of the incoming deposit money to borrowers or buy investments.

No one has necessarily taken all or any of the 'money.'

The question of who takes the 'money' will occur when and if the borrowers repay their loans and the investments mature.

[lordtiberius]

Let me help you state my position correctly.  I do deny that Russia has invaded MAINLAND Ukraine, because they haven't....You believe they have invaded. 


And? 


Fathertime!

You do know Crimea is connected to mainland Ukraine right or are you also detaching Luhansk and Donetsk from mainland Ukraine?  What other Army uses AK 100s?  What other news service carries MANPADS?  Who is Colonel Igor Girkin?  Keep spinning this and tell us you are not for Putin.

[Wayne]

In USA, the FDIC insures accounts up to $250,000. If you go to their website, there is a very long list of FAILED banks. Most of the failed banks are bought out by a larger bank. There are a few that are not, so FDIC pays out to the people who had accounts in that bank.
 
In Ukraine, Russia and Crimea I don't believe that they have something like FDIC? Perhaps someone knows?
 
So if a certain bank in Crimea completely failed, the people would lose part or all of their savings.
 
However, if a certain bank closed their branches in Crimea, but are still in business in Ukraine, people could go to Ukraine to draw out their money. But they could still have a limit on how much you can take out!
 
So one person's experience does not apply to everyone.
 

[fathertime]

You do know Crimea is connected to mainland Ukraine right or are you also detaching Luhansk and Donetsk from mainland Ukraine?  What other Army uses AK 100s?  What other news service carries MANPADS?  Who is Colonel Igor Girkin?  Keep spinning this and tell us you are not for Putin.

 You seem to be quibbling about definitions regarding the location of Crimea…I continue to hold that Russia has not invaded Ukraine, aside from Crimean pennisula…that is what I believe the totality of evidence supports,   IF Russia sent rabble-rousers into other areas that is not the same thing as an invasion.
 The evidence continues to support that Russia is not interested in owning other parts of Ukraine at this time, but would rather just exert it’s influence.    After the vote and the subsequent decisions made by the new leadership, we shall see what the result is.  Those that said he was going to, or HAD to invade before the elections appear to be mistaken unless something big happens in the next 3 days with those napping Russian troops on the border.


Fathertime!   

[Wayne]

It looks like Russian Federation has a FDIC type coverage, but at a much lower level. I did not find anything about Ukraine, but EU countries have coverage. So it would probably be one of the requirements if Ukraine joins the EU.

[GQBlues]

It looks like Russian Federation has a FDIC type coverage, but at a much lower level. I did not find anything about Ukraine, but EU countries have coverage. So it would probably be one of the requirements if Ukraine joins the EU.

IINM, they do...DIS (Deposit Insurance System); IADI. Same, I believe, they have in Europe.

[lordtiberius]

 You seem to be quibbling about definitions regarding the location of Crimea…I continue to hold that Russia has not invaded Ukraine, aside from Crimean pennisula…that is what I believe the totality of evidence supports,   IF Russia sent rabble-rousers into other areas that is not the same thing as an invasion.
 The evidence continues to support that Russia is not interested in owning other parts of Ukraine at this time, but would rather just exert it’s influence.    After the vote and the subsequent decisions made by the new leadership, we shall see what the result is.  Those that said he was going to, or HAD to invade before the elections appear to be mistaken unless something big happens in the next 3 days with those napping Russian troops on the border.


Fathertime!

So those little green men in Crimea not an invasion force?

[stilllooking]

So those little green men in Crimea not an invasion force?

of course not, they are freedom fighters from across the region who are supporting the seperatists from the goodness of their hearts. They have not been sent by anyone in any way connected to the russian government, they have at their own free will decided to put their life on the line to fight for a cause they strongly believe in (or course, what one would call freedom fighters another would call terrorists, either way they are willing to sacrifice themselves for the cause which in reality does not affect them directly or even indirectly, a bit like Islamic brothers from the west going to help their Islamic brothers in Syria)

On a more serious note, I am not entirely sure you could call the little green men an invasion force. Seems more like a recon force to pave the way for the invasion force, although it also looks like that Recon force is now being left high and dry by the delay or cancellation of the invasion.

[fathertime]

So those little green men in Crimea not an invasion force?

How you ever come to your conclusions based on what I wrote seems to provide evidence that you are not comprehending very well...If you are not comprehending well then it stands to reason that not many will put merit into such ill-informed posts regarding 'interpretations' of what others viewpoints are.


Fathertime!   

[lordtiberius]

Its a yes or no questions. Fathertime.  You can interpret it by answering it.