The turnout for the referendum in Crimea was high, more than 75% voted of the 1.5m people that had the right to vote according to the Russian Interfax. Voting polls closed at 20.00 local time and one exit survey showed 93 per cent in favour of rejoining Russia according to Reuters. The first official results will be published tomorrow. The Russia Duma will gather next Friday to review a draft law that would allow it to accept Crimea into the Russian Federation. Many commentators believe that Russia will not immediately take in Crimea, but rather that Russia would to recognize Crimea as an independent republic, much like it does Abkhazia and South Ossetia after the war with Georgia in 2008. There have been rumours over the weekend that as much as USD 100 bn worth of US Treasury bills and bonds has been moved from US accounts to non-US accounts to avoid the possibility of being frozen if sanctions are in place already next week.
Posted on: Sun, 16 Mar 2014 19:58:00 +0000
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