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Crimea to hold referendum on whether it should join Russia

FXStreet (Łódź) - According to Reuters Crimea’s deputy premier, Rustam Temirgaliev said today that a referendum will be held in the region on 16 March to decide whether it should become a part of Russia or remain with Ukraine, with the 1992 constitution restored.

Earlier the Crimean parliament voted unanimously in favor of the region becoming a part of Russia.

An emergency EU summit on the Ukraine crisis kicks off today in Brussels, after US secretary of state John Kerry and Russian foreign minister Sergei Lavrov failed to reach an agreement on the solution to the situation in Crimea yesterday in Paris. The UN security council is also due to meet later today in New York to discuss the tensions in Ukraine.

On Thursday European Union announced its decision to freeze the assets of Ukraine's ousted president Viktor Yanukovych as well as of other 17 Ukrainians who were “s identified as responsible for the misappropriation of Ukrainian State funds and persons responsible for human rights violations, with a view to consolidating and supporting the rule of law and respect for human rights in Ukraine,” according to the official document.

Ukraine's new PM Arseny Yatseniuk declared that the funds embezzled by Yanukovych in the last three years amounted to 37 billion dollars.

Meanwhile, Lithuanian President Dalia Grybauskaite said today that the conflict in Ukraine could affect the entire baltic region and could threaten all of Europe. On Sunday she held a telephone conversation with Polish President Bronisław Komorowski calling for NATO consultations under Article 4 of the alliance’s founding treaty.

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