This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Crimea Secession Vote Sees High Turnout

By John-Thor Dahlburg and Mike Eckel

SIMFEROPOL, Ukraine -- Fireworks exploded and Russian flags fluttered above jubilant crowds Sunday after residents in Crimea voted overwhelmingly to secede from Ukraine and join Russia. 

(MLV's Michael Peterson comments on the Crimean crisis: "Oil and Natural Gas Markets Won't Freeze Up If Crimea Splits.")

The United States and Europe condemned the ballot as illegal and destabilizing and were expected to slap sanctions against Russia for it.

Ukraine's new government in Kiev called the referendum a "circus" directed at gunpoint by Moscow - referring to the thousands of Russian troops now in the strategic Black Sea peninsula after seizing it two weeks ago.

But after the polls closed late Sunday, crowds of ethnic Russians in the regional Crimean capital of Simferopol erupted with jubilant chants in the main square, overjoyed at the prospect of once again becoming part of Russia.

The Crimea referendum offered voters on the strategic Black Sea Peninsula the choice of seeking annexation by Russia or remaining in Ukraine with greater autonomy. After 50% of the ballots were counted, Mikhail Malishev, head of the referendum committee, said more than 95% of voters had approved splitting off and joining Russia.

Opponents of secession appeared to largely stay away Sunday, denouncing the vote as a cynical power play and land grab by Russia. But turnout was reported to be well above the 50% that would make the referendum binding -- and secession was expected to be approved overwhelmingly.

Russia was expected to face strong sanctions Monday by the U.S. and Europe over the vote, which could also encourage rising pro-Russian sentiment in Ukraine's east and lead to further divisions in this nation of 46 million. Residents in western Ukraine and the capital, Kiev, are strongly pro-West and Ukrainian nationalist.

The Crimean parliament will meet Monday to formally ask Moscow to be annexed and Crimean lawmakers will fly to Moscow later in the day for talks, Crimea's pro-Russia prime minister said on Twitter.

In Moscow, the speaker of the lower house of the Russian parliament, Sergei Naryshkin, suggested that joining Russia was a done deal.

"We understand that for 23 years after Ukraine's formation as a sovereign state, Crimeans have been waiting for this day," Naryshkin was quoted as saying by the state ITAR-Tass news agency.

Russian lawmaker Vladimir Zhirinovsky said the annexation could take "from three days to three months," according to Interfax. 

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,040.92 -12.79 -0.07%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs