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Crimea sets up central bank, to get Russian money

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Monday, March 17, 2014 - 8:25 am

MOSCOW — Crimea's deputy prime minister says the region has set up a new central bank and is expecting to get $30 million in support from Russia.

Ukraine's Crimean Peninsula on Monday declared itself an independent state after its resident voted overwhelmingly in support of seceding and seeking to join Russia.

The West does not recognize the referendum, saying it violates both Ukrainian and international norms. Moscow considers the vote legitimate and Russian President Vladimir Putin will address his parliament on the issue Tuesday.

Rustam Temirgaliyev was quoted by the Interfax news agency as saying Russia will send to Crimea 1 billion rubles "in the coming days" to help it stabilize its financial situation. Temirgaliyev said the new central bank will later function as a regional branch of the Russian central bank.