"Russia's annexation of Crimea is turning into a costly boondoggle."

What Putin Is Costing Russia

Former finance minister Alexi Kudrin projects up to $160 billion in capital will flee this year.

"Russia's annexation of Crimea is turning into a costly boondoggle. The Kremlin has already earmarked nearly $7 billion in economic aid for the peninsula this year, funds that will be spent on everything from infrastructure to beefed-up pensions for local residents. Even when balanced against anticipated gains from Crimea's energy resources and savings on naval basing arrangements, among other factors, that's a cost Russia's sluggish economy can ill afford."

HT: SD