Russian President Vladimir Putin was all smiles as he signed the annexation treaty between Crimea and the Russian Federation on March 18th that will allow the Crimea to be absorbed by Russia.  In a speech to the Russian Duma, Putin congratulated the 82% of Crimea citizens voting by a 96% majority to secede from the Ukraine. But Putin’s Cheshire-Cat smile isn’t just about welcoming two million more countrymen.  The day before, Crimea’s parliament nationalized Chornomornaftohaz and Ukrtransgaz, the two energy companies that control substantial offshore oil and gas reserves.  Putin intends for Russia to make a profit on acquiring and developing Crimea’s offshore oil and gas. The Crimea is a lush region known for its palm-fringed seafront boulevards and rocky hills, but it receives subsidies for 85% of its electricity, 90% of its drinking water and most of its food. Putin has committed to continuing subsidies and lifting 560,000 Crimean pensioner...(Read Full Post)