“With the Crimea reportedly on the shelf of the Black Sea, there is Chornomor Naftohaz, which is an old enterprise that has rights to develop oil and gas fields in the area but now it’s technically a Russian enterprise since it belonged to Ukraine,” Slava Smolyaninov, chief strategist at UralSib Financial Corp in Moscow, told New Europe on June 6, adding that Ukraine threatened to sue Russia over Chornomor Naftohaz and over underground storages of natural gas in Crimea.