First Deputy Minister of Economic Development of Crimea Andrei Kulik acknowledged that businessmen from the United States and the European Union are investing in projects on the peninsula. According to the deputy minister, these investments are quite successful, but foreign entrepreneurs are not in a hurry to disclose this fact..

“Not all of them would like their names to be advertised because of the sanctions regime,” Kulik explained to RIA Novosti.. The official said that foreigners in the Crimea are interested in agriculture, hotel business, as well as agriculture and food processing. Relations between Moscow and the West have seriously deteriorated due to the annexation of the Crimea to the Russian Federation. In 2014. The European Union and the United States have imposed restrictive measures against a number of individuals and against individual sectors of the economy..