Crimea could be granted the status of a special economic zone, Russian Prime Minister Dmitry Medvedev said. “We will need to provide additional preferences to the new Russian regions. I think that it is possible to consider the issue of establishing a special economic zone in Crimea,” Medvedev said at a meeting dedicated to social and economic development of Crimea and Sevastopol on Monday.

During the transition period, which is scheduled for Crimea’s integration in Russia’s social and economic life and which will last until January 1, 2015, enterprises working in Crimea under Russian jurisdiction could be relieved of paying taxes, the prime minister said.

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