Crimeans voted to break off from Ukraine and join Russia . Their vote represents the re-establishment of a historic cultural relationship . But take away the emotional side of the Crimean referendum and reality hits home -- the economic challenges that are yet to knock on their door . The peninsula only produces one-tenth of the energy it consumes . Ninety percent of its water , 80 % of its electricity , and roughly 65 % of its gas come from the rest of Ukraine . And while Russia has enough energy to supply power to Crimea , it 's lacking the infrastructure -- there are not even any underwater cables though the Strait of Kerch , which separates Russia and Crimea . Crimean authorities set out their plan to nationalize the oil and gas company Chernomorneftegaz , but according to Lilit Gevorgyan , Senior Economist at IHS , that may not be enough to `` solve fully their energy problems and ... become independent of Ukraine . '' And the costs do n't end there . Crimea depends heavily on the Ukrainian mainland to balance its books . Around 70 % of Crimea 's $ 1.2 billion budget comes directly from Kiev . Annexation of Crimea would be costly for Russia too because Crimea will need similar support , if not more , from Moscow . And while Russia 's economy is stable , it is not growing . Moscow recently announced it will invest between $ 5 billion and $ 6 billion in Crimea , according to Helena Yakovlev Golani at the University of Toronto . The costs begin to add up -- and that 's not including the challenges of integrating the banking system and currency and validating land titles . For the Crimeans , the most noticeable change could be the lack of tourists this season , with many expecting visitors to cancel tours because of the crisis . This will be damaging for Crimea , according to Ukraine 's Tourism Board , given that Crimea attracted 6 million tourists last year . Seventy percent of holiday makers in the region are domestic visitors from mainland Ukraine . The crisis has been portrayed as a geopolitical struggle between Russia and the West , but it will also affect ordinary people ; they still need to eat , pay bills and dress their children . Some in Crimea have portrayed the situation as an economic crisis , but actions on the ground suggest this is less about the economy and more about Russia 's desire to project power in a strategically important region . Map : Why the EU and U.S. are out of step on Russia sanctions . Editors ' Note : This article has been edited to remove plagiarized content after CNN discovered multiple instances of plagiarism by Marie-Louise Gumuchian , a former CNN news editor .
IHS is entirely integrated into Moscow 's mainland economy and infrastructure . The peninsula only produces 6 million of the energy it consumes . If the region becomes part of Moscow , Ukraine will have to invest heavily in the region .