Alexander Batalin, chairman of Phiolent, speaks during an interview in Simferopol
Alexander Batalin, chairman of Phiolent, speaks during an interview in Simferopol, April 8, 2014. Since President Vladimir Putin formally annexed Crimea on March 21, confusion has reigned. Courts are paralysed, the banking network is in disarray as Ukrainian and Western banks pull out, and business ties with the mainland are sundered. "We have to change all our logistics. Ukraine's reaction is unpredictable. We are redirecting everything through Russia," said Alexander Batalin, chairman of Phiolent, which supplies 90 percent of all power tools in Ukraine. The Simferopol-based firm is a significant player in the local economy with 1,800 employees and a turnover of about 1 billion rubles ($28 million). Its future is now uncertain. Batalin says he does not yet know who will take control of the more than 50 percent once owned by Ukrainian state. Picture taken April 8, 2014. REUTERS/Maxim Shemetov (UKRAINE - Tags: POLITICS SOCIETY BUSINESS)