Crimea expected to vote to join Russia in referendum

Almost 2M Crimeans are going to the polls today in a referendum over whether to join Russia or to stay in Ukraine but take on a wide autonomous status that would facilitate a break-away later on.

The measure doesn't offer maintaining the status quo and is expected to pass, although the West has said it doesn't recognize the referendum and has been preparing limited sanctions that will take effect on Monday.

Ahead of the ballot, Russian troops entered parts of Ukraine that are outside Crimea for the first time, increasing fears that Russia will invade its neighbor.

Russian companies have been withdrawing billions of dollars from western banks on concerns that any international sanctions could lead to an asset freeze, the FT reports. NY Fed data shows that in the week to March 12, foreign holdings of U.S. Treasurys at the Federal Reserve dropped by a record $105B to a 15-month low of $2.855T, prompting speculation that tied Russia to the move.

Russian and Eastern European ETFs: RSX, RUSL, ERUS, RUSS, RSXJ, RBL, RUDR, GUR, ESR

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Comments (12)
  • braliv
    , contributor
    Comments (138) | Send Message
    WHAT ABOUT " self determination" ? People don't belong to the banks...
    16 Mar 2014, 10:09 AM Reply Like
  • User 353732
    , contributor
    Comments (5168) | Send Message
    Ethnicity trumps nationalism in many parts of the world where the political geography is a consequence of forced separation. The Crimeans identify with Russia.
    Modern Ukraine is a recent and quite artificial creation, much like Yugoslavia or Czechoslovakia or many nations in the Middle East and Africa.


    A Nation is not a geography but a shared set of values, traditions, memories or ethnic affiliation just as America is not a geography but an idea. The US is a geography and a quite recent one at but America is not.


    The West knows full well that the process that began with the dissolution of Yugoslavia and Czechoslovakia and the reunification of Germany spreads to the Ukraine it will also spread to several parts of Western Europe(Spain and the UK especially) and from there to the US and Canada and of course to Russia and China.
    16 Mar 2014, 11:21 AM Reply Like
  • James Hanshaw
    , contributor
    Comments (4249) | Send Message
    I agree, User 353732. And these creations are endless. Many were started at the time of the British Empire to suit the convenience of British overlords; India, Pakistan Afghanistan etc.
    Israel is a recent creation. North and South Italy have not long been joined and many in the north want separation. The same goes for Belgium. The Catalans want to separate from Spain. Scotland might vote to leave the UK.


    Yet the EU wants to go the other way and create another centrally run empire headed up by non elected overlords in Brussels.


    The tensions are many. And I see little wrong if the people of any part want to do things their way via referendum. To claim it is illegal in Crimea as the US and west are doing is hypocrisy - if a clear majority want something that hurts no one else the law must be changed for them. Switzerland, a mix up of different people coming together voluntarily over centuries, is run by rule of referendum - direct democracy - and is one of the safest, wealthiest countries in the world to live and being neutral does not attempt to dictate to others how they should run their affairs. A pity we do not have more Switzerlands in the world


    And should not someone remind the US that its Declaration of Independence was illegal at the time?!
    16 Mar 2014, 12:29 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (3859) | Send Message
    What would happen if the citizenry of El Paso voted to re-join Mexico? Or if Boston voted to join Ireland?


    Or I could vote to secede-with my house- from the US and become a part of France. I bet the French would go for that.
    16 Mar 2014, 12:02 PM Reply Like
  • James Bjorkman
    , contributor
    Comments (2778) | Send Message
    You have to love a referendum that gives you no choice to pick the one option the authorities don't want and a big fraction of the locals do. That's just awesome police state stuff right out of the Soviet handbook, "pick either A or B, we're fine with either." The world is getting more Orwellian by the day, both here and abroad.
    16 Mar 2014, 02:01 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (3859) | Send Message
    Ukraine should have a referendum to join the US as the 51st state.
    16 Mar 2014, 02:50 PM Reply Like
  • Tricky
    , contributor
    Comments (2567) | Send Message
    We wouldn't want it. It's a basket case of a country.
    16 Mar 2014, 05:10 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (3859) | Send Message
    Like Illinois or New York?
    16 Mar 2014, 05:18 PM Reply Like
  • temenem
    , contributor
    Comments (539) | Send Message
    Long IL, short NY. Chicago is 2nd city to none! :-))) LOL


    So what happens now with Crimea/Ukraine/Russia? Will the markets crash on Monday?
    16 Mar 2014, 05:32 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (3859) | Send Message
    this was anticipated long before the markets closed on Friday. S&P futures are up a bit right now.


    I would be surprised to see a crash Monday.
    16 Mar 2014, 06:16 PM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
    ha! with NO CHOICE to stay part of Ukraine, the only option is to become PART of Russia.


    the market has already priced in this stupidity.
    16 Mar 2014, 06:50 PM Reply Like
  • 11146471
    , contributor
    Comments (1397) | Send Message
    Unfortunately for the bears, market seems very healthy and in good shape today. Especially in Russia.


    It seems that Crimea was already incorporated in previous week weakness.
    17 Mar 2014, 08:12 AM Reply Like
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