The True Cost of Crimea

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Some say that Russia spent 10% of its total economy to annex Crimea. And while many are quick to point fingers at the Western sanctions, something else was disrupting the Russian economy. Hint: it has something to with oil 🤫

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#Putin #Crimea #History

[ichstim]

I feel like you glossed over the OPEC too lightly. They didn't just "stand by and watched". They didn't want to give up their market share by decreasing their production. They knew that the USA would just fill that void. So the OPEC tried to artificially lower the price, because they knew that at some price it would cost more to produce oil than to earn from it, causing companies to shut down their oil production for the time being in the USA (and, in turn, drive up the price again). They were able to do that because of the huge amounts of money they had in reserve, essentially trying to sweat out the low oil prices. How this worked out and how the other oil producing countries reacted to this (hint: Venezuela) could honestly be a video on its own.

[bepsi]

Crimean annexation brought to you by Audible

[montoyaflorent]

I was hoping for detailed military cost and more info about the sanctions. Another half made video from your channel...

[choo_choo_]

Nice ad. You completely glossed over the subject of the video and just explained why oil prices are low, told us Crimea is poor, and that Russia annexed it.
Cue Audible ad, roll on credits.

I get you gotta pay for this stuff and we're consuming it for free, but jeez, have some tact. You essentially just read a news headline and stretched it for 5 minutes for ad-space and paid promotion.

[NikeH]

America wasn't grateful for OPEC keeping the oil price low; OPEC were trying to drive the shale producers out of business as the latter needed a high oil price to meet their debt obligations.

[buxtehude]

What Russia got from re-unification with Crimea. 1. Absolutely vital navy base in Sevastopol.1. Trillion dollar energy reserves in Crimean sea shelf. 3. Millions new citizens. 4. $100 billion+ saving which Russia used to Ukraine ( and would continue to pay) as a bribe for Russian fleet in Sevastopol. 5. Utter humiliation of U.S. foreign policy-- priceless.

[alexdiezg]

Thanks for starting a war in the comments

[thameralosaimi]

Remember when this channel was about business ya I miss that

[thomasaquinas]

Some believe that the Crimea was a natural part of Russia, as it believes some of the runaway republics are too. The trouble is when land is historically aligned in one way while the modern will of the people is something quite different. The Russians over history certainly paid dearly for the Crimea going back to the 19th century and then forward to the Great Patriotic War (WW2). A Russian now US professor once told me in this regard, if we (Americans) believe in self-determination, then why didn't we let the Southern states secede?

[victornderu]

Russia values security more than economy, that's why they needed to take back Crimea for the Black sea activities.

[stephenhall]

Why is the word "annexation" used when the context is so complex? Moreover, the 1951 'gift' of Crimea by Kruschev was for administration by an ally in the Soviet bloc. You need to examine how some of the EU and US under Obama exploited Ukraine. You also need to research the precise demographics of the region.

[elenagisa]

The comments section is way more interesting to read then to watch the video.

[GrigorySergeev]

Pretty bulshit story. "I'll explain Russian history and motives in 5 minutes for you..." sure, I'm all ears.

[DominicTaddei]

people forgot the fact the crimea's actually wanted to be reunited with mainland Russia. when i was in Crimea back in 2009 and again a few days after annexation they would call themselves Russian not ukrainian. Many including one of my friends said his pension had almost tripled and life is better now. when i arrived in crimea a few days after annexation everyone was celebrating had flags of putin on their cars and houses and signs up everywhere saying now we are together with Russia. the people always wanted this. Ukraine was never on par with Russia in living conditions etc and so it took a lot to bring Crimea up to standard and its ongoing

[anthonymorris]

The Price of oil definitely has an effect on Russia, but it has nothing to do with Crimea or the cost of annexation.

[simonsimonovic]

2014 was shock for Europe ???
What about 1999 or 2003 or 2011
(1999 - illegal bombing of Yugoslavia, against ineternational law)
(2003 - invasion of Iraq, against ineternational law)
(2011- destroying of Lybia, against international law) ...
What are costs for US and it's foreign policy ???

[marioorigenes]

Make a video and documentary about US invaded syrian soil and grab the oil

[ShadowoftheDarkgod]

I feel that you should also make a follow up video on why and what did Russia gained in annexing Crimea. The cost of that port is just too much for Russia to let go, maybe they underestimated the global and economic response to it but retaining Crimea is a must for them.

[brobot_]

-ruining foreign relations
-causing massive inflation
-western sanctions
aand much more i dont know about

[kreglfromworld]

I missed how anexation of crimea caused oil price drop