The newly built bridge connecting Crimea with mainland Russia will lower consumer prices on the peninsula thanks to regular traffic flow, according to Russian President Vladimir Putin.

Read more

“Some prices are higher in Crimea than in the neighboring Krasnodar and Rostov regions,” Putin said during his Q&A session on Thursday. The situation will change when the Crimean Bridge is opened for trucks, the president said.

Before the bridge was built, the only connections between Crimea and the other parts of Russia were through ferry services and air traffic. This inevitably led to a spike in consumer prices on the peninsula. The 19-kilometer Crimean Bridge, the longest in Europe, was opened in May.

It begins on the Taman Peninsula, passes over a 5km dam and Tuzla Island, crosses the Kerch Strait and reaches the Crimean coast. Now, the bridge is open only for automobiles, but regular cargo traffic will open by the end of 2018.

The bridge will remain free for everyone, since there is no alternative. “In accordance with the current law, toll roads can arise where there is an alternative, in this case there is no alternative, so the passage through the Crimean Bridge will be free," Putin said.

For more stories on economy & finance visit RT's business section