Crimea 'establishes central bank'

Crimea’s deputy prime minister says the region has set up a new central bank and is expecting to get €21m in support from Russia.

Ukraine’s Crimean Peninsula has declared itself an independent state after its resident voted in support of seceding and seeking to join Russia.

The West does not recognise the referendum, saying it violates both Ukrainian and international norms. Moscow considers the vote legitimate and Russian president Vladimir Putin is to address his parliament on the issue.

Rustam Temirgaliyev reportedly said Russia will send 1 billion rubles to Crimea “in the coming days” to help it stabilise its financial situation.

Temigraliyev said the new central bank will later function as a regional branch of the Russian central bank.