Russian President Vladimir Putin. Photograph courtesy of the Kremlin
Russian President Vladimir Putin has formalised Russia’s takeover of Crimea by signing the annexation into law, despite a new round of sanctions from the US and EU.
This official formalisation follows the referendum last weekend, where 95.5% of those who voted chose to leave Ukraine and join the Russian Federation, and the subsequent official request by de facto Crimean leader Sergei Aksyonov to join the federation.
European leaders have said that they will increase pressure on Russia, and step up efforts to reduce the continents dependency on Russian energy. Earlier today, the EU also signed an accord to forge closer ties with Ukraine, with Kiev hoping that the annexation of Crimea is not a first step by Russian to regain control of the entire country.
Shares in Moscow fell on Friday, demonstrating investor concern about the possible effects of the EU and US sanctions upon Russian businesses, with many of the individuals targeted holding much of the political and economic power in the country.
