Crimea Completes Nationalization - Republic's Prime Minister

The Republic of Crimea has successfully completed the process of nationalizing a number of enterprises that formerly belonged to Ukraine.

MOSCOW (Sputnik) — The process of nationalizing a number of enterprises in the Republic of Crimea is complete, the republic's Prime Minister Sergei Aksyonov said Friday.

"We are completing the process of nationalization today," Aksyonov said during the republic's parliament session.

Crimea seceded from Ukraine and voted to reunify with Russia in March 2014.

The nationalization concerned state property that formerly belonged to Ukraine and abandoned property on the territory of the republic.

Crimean authorities nationalized Krymkhleb bread-baking complex and the bread-baking complex of the city of Simferopol that belong to separate companies in Ukraine.

The DTEK Krymenergo electricity company was also nationalized, with the company providing electricity to Crimea residents across an area of 27,000 square kilometers (some 10,500 square miles).

The Crimean branch of the Ukrainian telecommunications company Ukrtelecom also underwent nationalization, as well as the Crimean assets of Ukrainian mobile carrier Kyivstar.

Crimea also nationalized the Yalta film studio that was one of the most prolific film studios in the Soviet Union.

The Krymavtotrans transportation company, four bus terminals, and Kerch Switch Works that produces rail track switches were also among entities nationalized by the republic.

The Crimean State Council has prohibited any nationalization after March 1.