The Russian government has reportedly announced that it is to invest $2 billion in developing 15 new marinas in the region by 2020, as purported by the vice president of the Sailing Federation of Sevastopol, Vladimir Glinyanik.
Glinyanik’s statement has been bolstered by that of the Russian Ministry of Industry and Trade, a spokesperson for which has claimed the government will also bring in a series of measures that make it easier for yachts to visit the region.
There is no questioning the Black Sea basin’s suitability for superyacht tourism; further west, Odessa was a historical tourist destination for the Russian aristocracy. And Crimea’s KaZantip festival is a famous haunt for oligarchs.
However, the legality of the region’s annexation is seriously dubious, and the situation as it stands would prohibit the Russian government from undertaking large-scale public works.
Furthermore, the plans tabled by the Russians mirror, almost exactly, a plan devised at the third congress of the International Black Sea Economic Forum. At the event, which took place in autumn 2012, it was proposed that the Ukrainian government would invest ¢1 billion to build 15 marinas by 2020.