Russia used pension funds to pay for annexation of Crimea

by The Daily Lede

Russia’s Finance Minister Anton Siluanov has come out saying that there are no funds within the state coffers to return frozen pension savings for 2014 as they have been used to pay for Putin’s annexation of Crimea, reports ITAR-TASS and

The Finance Minister was quoted as saying: “There are no sources for this [repayment]. No one intended to return these funds, because these funds went to the Crimea, on taking anti-crisis measures. Now while that resource exists, most likely it will go to supporting a program of social-economic development of the Crimea and Sevastopol. To simply say that we will return these funds is a proposal not contemplated, which was not discussed.”

The bill for Russia’s annexation is huge.  Spending through 2020 for development of Crimea is estimated to run between 800 billion and 1 trillion rubles, most of which was to come from the federal budget.