In 2014, with Russia's shipyard lease in Crimea to expire in 2017 and the deal to extend it another 30 years on the rocks with Yanukovich's ouster, Putin brazenly occupied the peninsula militarily, invoking historical precedents and the image of "Greater Russia". But despite Donbas Ukrainians dreams of uniting with Russia, Putin's heart didn't seem to be into the conflict so much as reinvigorating Crimea, and the only significant action since was a brief push towards Mariupol in the presumed attempt to give Russia an easy land route to Crimea. But aside from laughable attempts to get Russian tourists to keep Crimea afloat economically with horrendous lines at the ferry, the Russians started rebuilding their Sevastopol fleet, where most of their global naval power is housed, within weeks of occupation (scroll down for better pics of the whole fleet).
But perhaps Putin had a change of heart or wisdom about maintaining the bridge or land route to Crimea, as Russia's new $1.4 billion base is meant to open in 2020, not in Sevastopol, but in Novorossiysk heading down the Black Sea's east coast towards Sochi - firmly in undisputed Russia.
This Black Sea investment might not have seemed the greatest idea what with Russia's relationship with Turkey on the rocks, but suddenly amidst significant surprise, Russia's Turkish relations vastly improved (with Turkey & Russia now arrying out naval maneuvers together in lieu of the short-term gas embargo). Erdogan also took advantage of the "beginning of a beautiful relationship" to crack down on Islamic dissenters at home and take off the gloves as to Kurdish rebels in Syria. [Some think Erdogan is just playing East off West, but it's hard to see what he wants from the West at this point, aside from a foil and scapegoat]. Putin's obvious benefit? Anything in the Black Sea comes out the Bhosporus Straits, i.e. through good ol' ancient Byzantium, aka Istanbul.