You're reading: Kremlin’s Crimean head warns retailers about price gouging

Crimea - Shopping chains in Crimea, which overstate prices for products, may lose the opportunity to work in the region, head of the republic, Sergei Aksyonov said.

“We met with chains, made of list of those who decided to cash in on the situation. If we do not reach a compromise with them, if people do not understand that they should not cash in on difficult situation, that this immoral, then we will give priority to other companies. We will create conditions so that other companies come here, and so that these will no longer have prospects in Crimea,” Aksyonov said on Tuesday at an offsite meeting of the Council of Ministers of Crimea in the township of Krasnogvardeyskoye.

“It is a quasi-military time, whoever doesn’t understand this shouldn’t get mad at us,” the head of the region said.

Prices for the majority of goods and products in Crimea began to rise soon after the reunification of the region with Russia in connection with difficulties in cargo supplies to the peninsula and the increase in income for a large part of Crimea’s population. At the end of 2014, the rise in prices continued amid fluctuations in the ruble’s exchange rate.

The Crimean authorities are calling the increase in prices mostly artificial and not attributable to economic factors.