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Ladies’ Rolex Yacht-Master Buying Guide

The Rolex Yacht-Master has gained significant acclaim, attracting individuals who value a blend of sophistication, utility, and longevity in their wristwatches. While the Yacht-Master collection made its debut in 1992, primarily catering to the sailing and water sports community, its ladies’ variants exude a heightened sense of refinement and femininity. These ladies’ Rolex Yacht-Master timepieces are meticulously crafted for women, seamlessly merging style and practicality. <>

A Brief History of Ladies’ Rolex Yachtmaster Watches

The history of Ladies’ Rolex Yachtmaster watches is a journey marked by significant milestones. In 1992, Rolex unveiled the Yacht-Master collection, offering a luxurious take on nautical timepieces. Then, 1994 saw the introduction of a 35mm mid-sized edition, initially intended for the Asian market and men with smaller wrists, but this size was embraced by women.

The same year witnessed the launch of the first ladies’ Yacht-Master with a 29mm all-gold case. In the 2000s, these watches ventured into luxury territory with features like mother of pearl dials and two-tone metal variations. The Rolesium Yacht-Master, combining steel and platinum, followed with its debut in 2012.

Subsequently, in 2015,  Everose gold models emerged, and so did the 37mm Yacht-Master, becoming the default choice for the ladies’ Yacht-Master range.

About Rolex Yacht-Master Ladies’ Watches

The current Yacht-Master collection is considered suitable for both men and women, offering 37, 40 and 42mm case sizes. Until 2015, Yacht-Master models sized 29 and 35mm were made available for the ladies’ and they remain in demand in the pre-owned watch market. Here are the models available if you seek Yacht-Master ladies watches.

Ladies Rolex Yacht-Master Yellow Gold

Ref 68628 / 168628 / 69628 / 169628 in 35 and 29mm sizes.

The Ladies Rolex Yacht-Master Yellow Gold produced from 1994 to 2015, is a fusion of luxury and practicality. This series, featuring the precise Rolex movements 2135 and 2235, is renowned for its reliability and elegant design. Crafted in 18k yellow gold, it embodies durability and sophistication.

The Yacht-Master includes a bidirectional rotatable bezel and a scratch-resistant sapphire crystal, suitable for various environments. Its dial, typically white with luminous hands and markers, ensures clear visibility. Initially aimed at nautical professionals, its appealing design has attracted a wider audience. The automatic movements, 2135 and later 2235, showcase Rolex’s commitment to precision. This watch, balancing luxury with functionality, has become a coveted piece for collectors and enthusiasts.

Ladies Rolex Yacht-Master Steel and Yellow Gold

Ref 68623 / 168623 / 69623 / 169623 in 35 and 29mm sizes.

The Ladies Rolex Yacht-Master Steel and Yellow Gold was produced from 1995 to 2015. This exquisite timepiece is a symbol of Rolex’s dedication to craftsmanship and style. It operates on the reliable and precise Rolex movements 2135 and 2235, ensuring top-notch performance.

The watch’s distinctive two-tone design combines 18K yellow gold with robust stainless steel, creating an elegant yet sturdy aesthetic. This combination makes it versatile for both formal and casual occasions.

The Yacht-Master features a bidirectional rotatable timing bezel, which is practical for various timing needs. The scratch-resistant sapphire crystal adds to its durability.

Its dial, often in a radiant champagne color, is complemented by luminous hands and markers, making it easily readable in different lighting conditions. This model, initially designed for maritime professionals, has gained popularity among a broader audience for its blend of functionality and luxury. The 29mm size makes it a comfortable and stylish choice for women, embodying Rolex’s commitment to producing high-quality, versatile timepieces.

Ladies Rolex Yacht-Master Steel and Platinum

Ref 68622 / 168622 / 69622 / 169622 in 35 and 29mm sizes.

The Ladies Rolex Yacht-Master Steel and Platinum, produced from 1999 to 2015, is a fine blend of durability and elegance. It’s powered by Rolex’s precise movements 2135 and 2235, known for their reliability. This watch uniquely combines sturdy stainless steel with luxurious platinum, particularly in its striking bezel, making it suitable for diverse occasions, from outdoor adventures to formal events.

Featuring a scratch-resistant sapphire crystal, it upholds Rolex’s standard of durability. The dial, often in a stylish rhodium or blue, is equipped with luminous hands and markers, ensuring legibility in different lighting. Although initially designed for maritime enthusiasts, its sophisticated, versatile design has appealed to a broader audience. With a comfortable 35mm size, it’s a preferred choice for women seeking a high-quality, functional, and fashionable timepiece.

Ladies Rolex Yacht-Master Everose Gold, Steel and Everose Gold, and Steel and Platinum

Ref 268655, 268622, 268621 in 37mm sizes.

While not expressly marketed to the ladies, the Yacht-Master in 37mm sizes are also popular among women, particularly those who desire a bolder look. Produced beginning 2015, this case diameter gives off a stylish, oversized look that has been in vogue for years.

The Yacht-Master 37 comes in three different metal types: solid Everose gold with an Oysterflex strap, steel and Everose gold, and steel and platinum. These mid-sized models, featuring the Triplock triple waterproofness system, and powered by the self-winding Caliber 2236, are perfect for ladies who appreciate both performance and sophistication in their watches.

<> Final Thoughts

The Ladies Rolex Yacht-Master is a testament to Rolex’s excellence in watchmaking, blending luxury with functionality. Whether it’s in solid gold or a combination of metals, these models embody the sophistication and versatility Rolex is celebrated for.

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Rolex Yacht-Master Marine character

Launched in 1992, the Yacht-Master was designed specifically for navigators and skippers. This Professional-category watch provides a perfect blend of functionality and nautical style, making it equally at home on and off the water.

The Oyster Perpetual Yacht-Master embodies the privileged ties between Rolex and the world of sailing that stretch back to the 1950s. Specially designed to meet the needs of sailors, it is a technical, elegant and sporty watch that is above all a useful and reliable nautical instrument.

An immediately recognizable bezel

The Yacht-Master is easily recognizable for its bidirectional rotatable 60-minute graduated bezel made entirely from precious metal (Everose gold or platinum) or fitted with a black Cerachrom insert in high-technology ceramic. The raised polished graduations and numerals stand out clearly against a matt background. This characteristic and functional bezel – which enables the wearer to read time intervals, for example, the sailing time between two buoys – plays a full part in creating the unique visual identity of the watch.

Exclusive materials

Robust, accurate and perfectly waterproof, the Yacht-Master is one of the only Rolex Professional watches offered in several diameters (37, 40 and 42 mm).

The Yacht-Master 37 and Yacht-Master 40 are available in a Rolesium version (combining Oystersteel and platinum, exclusive to the Yacht-Master range) and in an Everose Rolesor version (combining Oystersteel and Everose gold) with a bezel in precious metal and fitted with an Oyster bracelet. Both models are also offered in 18 ct Everose gold featuring a Cerachrom bezel insert in black ceramic and an Oysterflex bracelet.

The Yacht-Master 42 is available in 18 ct yellow or white gold with an Oysterflex bracelet and in RLX titanium – a particularly lightweight alloy with excellent corrosion-resistance properties and high mechanical strength – with an Oyster bracelet. This version, unveiled in 2023, stands out for its technical satin finish, a finish with a visible grain.

Perpetual calibres 2236 and 3235

Yacht-Master models are equipped with calibre 2236 (Yacht-Master 37) or calibre 3235 (Yacht-Master 40 and Yacht-Master 42), self-winding mechanical movements entirely developed and manufactured by Rolex. They offer outstanding performance, particularly in terms of precision, power reserve, convenience and reliability. Both movements’ power reserve extends to approximately 70 hours.

Superlative Chronometer certification

Like all Rolex timepieces, the Yacht-Master is covered by the Superlative Chronometer certification. This designation testifies that every watch leaving the brand’s workshops has successfully undergone a series of tests conducted by Rolex in its own laboratories, according to its own criteria. The Superlative Chronometer status is symbolized by a green seal and is coupled with an international five-year guarantee.

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Pre-Owned Rolex Yacht-Master Watches

Rumoured to be a replacement for the Submariner that was considered too dramatic a change right at the last minute, the Yacht-Master was designed to be a more elegant imagining of the classic diver's watch. The sculpted cases and sparkling dials are the perfect combination for a summer trip to the Mediterranean.

Rolex Yacht-Master Watches

Since its introduction in 1992, the Rolex Yacht-Master series has become one of the most iconic collections within the luxury sports watch genre. Its blend of timeless design and rich history has elevated the Yacht-Master series to a symbol of sophistication and elegance.

The name Yacht-Master was actually first used on a Rolex watch in the 1960s but this was confined to several prototype chronograph models that closely resembled a Daytona. The name was abandoned, only to resurface decades later on a completely different watch.

Since its release, the Rolex Yacht-Master has undergone several evolutions, each showcasing Rolex's unwavering commitment to innovation and excellence. From the early models adorned with 18k yellow gold and platinum to the latest advancements in materials and technology, the Rolex Yacht-Master continues to redefine luxury watchmaking.

The Rolex Yacht-Master’s close association with the sea and yachting gives it a unique charm. Built to withstand the rigours of the ocean, the Yacht-Master, is the perfect companion for professional sailors and seafaring enthusiasts, offering them a reliable tool watch without compromising on style. Indeed, the watch was conceived as a more luxurious alternative to the trusty Submariner.

The Yacht-Master is a masterpiece that stands out with its unique features and exceptional craftsmanship. One such feature is its graduated bidirectional rotatable bezel, crafted from ceramic, platinum or gold. It enables the wearer to measure elapsed time with ease when navigating the world’s oceans. This not only ensures accurate timekeeping but also adds a touch of elegance to the watch.

Available in three case sizes—37, 40 and 42mm—and in various precious metals from18k yellow, white and Everose gold, to Everose Rolesor and Rolesium versions, the Yacht-Master is unique in the world of Rolex professional watches. An elegant watch with a sporty character, it was the first Rolex to be paired with a rubber Oysterflex bracelet in 2015.

In 2023, Rolex unveiled a new Yacht-Master 42 in RLX titanium. This marked the first time Rolex produced a Yacht-Master in this lightweight corrosion-resistant metal, making it a notable addition to the collection. It was even trialled on hugely successful British sailor and helmsman Sir Ben Ainslie before its release to ensure it was up to scratch.

The Rolex Yacht-Master, a symbol of luxury and sophistication, is a favourite among many celebrities. Hollywood actors Bruce Willis and Mark Wahlberg are among many high-profile personalities who have been spotted wearing one.

At Watchfinder, we offer an extensive range of pre-owned Rolex Yacht-Master models to suit every taste. Discover the perfect Rolex Yacht-Master that mirrors your unique style and personality in our selection today.

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Rolex Yacht-Master Marine character

Launched in 1992, the Yacht-Master was designed specifically for navigators and skippers. This Professional-category watch provides a perfect blend of functionality and nautical style, making it equally at home on and off the water.

The Oyster Perpetual Yacht-Master embodies the privileged ties between Rolex and the world of sailing that stretch back to the 1950s. Specially designed to meet the needs of sailors, it is a technical, elegant and sporty watch that is above all a useful and reliable nautical instrument.

An immediately recognizable bezel

The Yacht-Master is easily recognizable for its bidirectional rotatable 60-minute graduated bezel made entirely from precious metal (Everose gold or platinum) or fitted with a black Cerachrom insert in high-technology ceramic. The raised polished graduations and numerals stand out clearly against a matt background. This characteristic and functional bezel – which enables the wearer to read time intervals, for example, the sailing time between two buoys – plays a full part in creating the unique visual identity of the watch.

Exclusive materials

Robust, accurate and perfectly waterproof, the Yacht-Master is one of the only Rolex Professional watches offered in several diameters (37, 40 and 42 mm).

The Yacht-Master 37 and Yacht-Master 40 are available in a Rolesium version (combining Oystersteel and platinum, exclusive to the Yacht-Master range) and in an Everose Rolesor version (combining Oystersteel and Everose gold) with a bezel in precious metal and fitted with an Oyster bracelet. Both models are also offered in 18 ct Everose gold featuring a Cerachrom bezel insert in black ceramic and an Oysterflex bracelet.

The Yacht-Master 42 is available in 18 ct yellow or white gold with an Oysterflex bracelet and in RLX titanium – a particularly lightweight alloy with excellent corrosion-resistance properties and high mechanical strength – with an Oyster bracelet. This version, unveiled in 2023, stands out for its technical satin finish, a finish with a visible grain.

Perpetual calibres 2236 and 3235

Yacht-Master models are equipped with calibre 2236 (Yacht-Master 37) or calibre 3235 (Yacht-Master 40 and Yacht-Master 42), self-winding mechanical movements entirely developed and manufactured by Rolex. They offer outstanding performance, particularly in terms of precision, power reserve, convenience and reliability. Both movements’ power reserve extends to approximately 70 hours.

Superlative Chronometer certification

Like all Rolex timepieces, the Yacht-Master is covered by the Superlative Chronometer certification. This designation testifies that every watch leaving the brand’s workshops has successfully undergone a series of tests conducted by Rolex in its own laboratories, according to its own criteria. The Superlative Chronometer status is symbolized by a green seal and is coupled with an international five-year guarantee.

Keep exploring

GMT-Master-II

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Ladies Rolex Yacht-Master Repair

Ladies Rolex Yacht-Master

Delve into the striking collection of both 29 mm and 35 mm midsize designs. Each intricately detailed piece comes in an array of rare and precious materials, ranging from the ethereal sheen of platinum to the classic allure of yellow gold, the sleek contemporary look of white gold, the warm romantic tint of rose gold, and the robust resilience of stainless steel.

Each unique design boasts a blend of superior craftsmanship and luxe aesthetics, producing timepieces that are not just functional but also incredibly stylish. These watches add a restrained panache to any attire, whether formal or casual. They capture attention with their classy look and feel, exuding an aura of sophistication and elegance.

The platinum variants are notable for their sublime beauty and toughness, making them an excellent choice for those who cherish durability in their timepieces. Yellow gold options spell opulence, offering a touch of time-honored elegance that never goes out of style. On the other hand, the sharp, modern beauty of white gold designs effortlessly complements the minimalist style.

Rose gold models bring an inviting warmth and unexpected vintage charm to the assortment, suitable for those searching for a pop of color in their timepiece. Furthermore, the stainless-steel pieces are excellent for those who prefer an everyday casual look yet don't want to compromise style and quality.

Designed to inspire awe, these range of watches in 29 mm and 35 mm midsize designs celebrate the union of fashion and functionality. With various combinations of platinum, yellow gold, white gold, rose gold, and stainless steel, there's a perfect timepiece for everyone. Whether you're looking to make a bold style statement or simply own a timeless piece, our collection is sure to satiate your desires. Suitable for both men and women, these watches make a fitting addition to any wrist.

In conclusion, our assortment of 29mm and 35mm midsize designs, in a variety of high-quality materials, guarantees a timepiece that is not just stylish but also worth cherishing. Don't miss out on these classic yet contemporary designs, whether you're a first-time buyer or a seasoned watch enthusiast.

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• Rolex watches
• The Yacht-Master collection The Yacht-Master collection
• M226659-0002

Rolex Yacht-Master 42 Oyster, 42 mm, white gold

All prices are Rolex’s suggested retail price before applicable taxes. The suggested price can be modified at any time without notice.

All prices are Rolex's suggested retail prices inclusive of V.A.T. Prices can be modified at any time without notice.

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Please contact us or visit your nearest Tourneau location for information and pricing of this timepiece.

Prices can be modified at any time without notice.

The Yacht-Master’s new Oysterflex bracelet, developed by Rolex and patented, offers a sporty alternative to metal bracelets. The bracelet attaches to the watch case and the Oysterlock safety clasp by a flexible titanium and nickel alloy metal blade. The blade is overmoulded with high-performance black elastomer which is particularly resistant to environmental effects, very durable and perfectly inert for the wearer of the watch. For enhanced comfort, the inside of the Oysterflex bracelet is equipped with a patented longitudinal cushion system that stabilizes the watch on the wrist and fitted with an 18 ct white gold Oysterlock safety clasp. It also features the Rolex Glidelock extension system, designed by the brand and patented. This inventive toothed mechanism, integrated beneath the clasp, allows fine adjustment of the bracelet length by some 15 mm in increments of approximately 2.5 mm, without the use of tools.

By operating its own exclusive foundry, Rolex has the unrivalled ability to cast the highest quality 18 ct gold alloys. According to the proportion of silver, copper, platinum or palladium added, different types of 18 ct gold are obtained: yellow, pink or white. They are made with only the purest metals and meticulously inspected in an in-house laboratory with state-of-the-art equipment, before the gold is formed and shaped with the same painstaking attention to quality. Rolex's commitment to excellence begins at the source.

The Yacht-Master’s bidirectional rotatable 60-minute graduated bezel is made entirely from precious metals or fitted with a Cerachrom insert in high-tech ceramic. The raised polished numerals and graduations stand out clearly against a matt, sand-blasted background. This functional bezel – which allows the wearer to calculate, for example, the sailing time between two buoys – is also a key component in the model’s distinctive visual identity.

All Rolex watches are assembled by hand with the utmost care to ensure exceptional quality. Such high standards naturally restrict Rolex production capacity and, at times, the demand for Rolex watches outpaces this capacity.

Therefore, the availability of certain models may be limited. New Rolex watches are exclusively sold by Official Rolex Jewelers, who receive regular deliveries and independently manage the allocation and sales of watches to customers.

Tourneau I Bucherer is proud to be part of the worldwide network of Official Rolex Jewelers and can provide information on the availability of Rolex watches.

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.css-1c7en8u{font-size:clamp(1.375rem, 1.25rem + 0.3125vw, 3.125rem);line-height:1.1;margin-bottom:1rem;} Yacht-Master 40 .css-1g7r01k{font-weight:300;font-size:clamp(0.875rem, 0.9375rem + 0.1563vw, 1.25rem);line-height:1.2;text-wrap:balance;}.css-1g7r01k span{display:block;} Oyster, 40 mm, Oystersteel and platinum Reference 126622

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Staying on course

The Oyster Perpetual Yacht-Master 40 in Oystersteel and platinum with an Oyster bracelet.

Bidirectional rotatable bezel, timing the distance.

The Yacht-Master’s bidirectional rotatable 60-minute graduated bezel is made entirely from precious metals or fitted with a Cerachrom insert in high-tech ceramic. The raised polished numerals and graduations stand out clearly against a matt, sand-blasted background.

This functional bezel – which allows the wearer to calculate, for example, the sailing time between two buoys – is also a key component in the model’s distinctive visual identity.

Exceptional legibility

Like all Rolex Professional watches, the Yacht-Master 40 offers exceptional legibility in all circumstances, and especially in the dark, thanks to its Chromalight display.

The broad hands and hour markers in simple shapes – triangles, circles, rectangles – are filled with a luminescent material emitting a long-lasting glow.

A legendary combination

Many Rolex watches are available with the now-legendary combination of yellow, white or Everose gold and steel known as Rolesor, but Rolesium is a creation specific to the Yacht-Master.

While the case and bracelet are in rugged Oystersteel, the bezel of the Rolesium versions is made of platinum, imparting a silvery whiteness and vibrant luminosity for an unmistakable sense of luxury.

The Oyster bracelet

Alchemy of form and function.

The Oyster bracelet is a perfect alchemy of form and function, aesthetics and technology, designed to be both robust and comfortable. It is equipped with an Oysterlock folding clasp, which prevents accidental opening and the Easylink comfort extension link, also exclusive to Rolex.

This ingenious system allows the wearer to increase the bracelet length by approximately 5 mm, providing additional comfort in any circumstance.

More Yacht-Master technical details

Reference   126622

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Oyster, 40 mm, Oystersteel and platinum

Oyster architecture

Monobloc middle case, screw-down case back and winding crown

Rolesium - combination of Oystersteel and platinum

Platinum bidirectional rotatable 60-minute graduated with raised numerals

Winding crown

Screw-down, Triplock triple waterproofness system

Scratch-resistant sapphire, Cyclops lens over the date

Water resistance

Waterproof to 100 metres / 330 feet

Perpetual, mechanical, self-winding

3235, Manufacture Rolex

-2/+2 sec/day, after casing

Centre hour, minute and seconds hands. Instantaneous date with rapid setting. Stop-seconds for precise time setting

Paramagnetic blue Parachrom hairspring. High-performance Paraflex shock absorbers

Bidirectional self-winding via Perpetual rotor

Power reserve

Approximately 70 hours

Oyster, three-piece solid links

Oystersteel

Folding Oysterlock safety clasp with Easylink 5 mm comfort extension link

Highly legible Chromalight display with long-lasting blue luminescence

Certification

Superlative Chronometer (COSC + Rolex certification after casing)

Learn how to set the time and other functions of your Rolex watch by consulting our user guides.

Yacht-Master 40

Contact an Official Rolex Retailer

Only official Rolex retailers are allowed to sell and maintain a Rolex watch. With the necessary skills, technical know-how and special equipment, they guarantee the authenticity of each and every part of your Rolex and help you make the choice that will last a lifetime.

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Donetsk and Luhansk: What you should know about the ‘republics’

Who has followed Russia in recognising the controversial, Moscow-backed statelets in Ukraine? And what is life like there?

Kyiv, Ukraine – Moscow-backed separatists have controlled the southeastern Ukrainian regions of Donetsk and Luhansk, known collectively as Donbas, for almost eight years.

But Russian President Vladimir Putin recognised them only on Monday, paving the way for the official presence of Russian troops in the rebel-controlled areas that occupy about a third of Donetsk and Luhansk.

So far, only Cuba, Venezuela, Nicaragua and Syria have joined Putin in recognising Donetsk and Luhansk – along with breakaway Georgian provinces of South Ossetia and Abkhazia. They all did so also on Monday.

The central question is whether Russia would recognise them in their current borders. Should it decide to help the rebels “restore” their statelets to the original borders, it may spell a large-scale war between Moscow and Kyiv.

At the moment, Russia will recognise “the borders, where the leadership of the DNR and the LNR are executing their authority,” Deputy Foreign Minister Andrey Rudenko told the Interfax News Agency on Tuesday.

But the foreign ministry also said on Tuesday that the issue of the borders is yet to be resolved.

While Ukraine and the West try to avoid war, other questions loom.

What are the roots of the region’s separatism? What has kept these areas alive since 2014? And what is their future?

Neo-Stalinism

A 13.5 metre-tall statue of Soviet founder Vladimir Lenin still dominates the main square in Donetsk, the capital of the eponymous breakaway region in southeastern Ukraine.

And the constitution adopted by Lenin’s successor, Josef Stalin, has been restored by the Moscow-backed separatist leaders of Donetsk and neighbouring Luhansk after they broke away from the central government in 2014.

This constitution prescribes the death penalty for a number of crimes, making the separatist “People’s Republics” – and authoritarian Belarus nearby – Europe’s only homes to capital punishment.

After almost eight years of existence, the “republics” are understood to have evolved into totalitarian, North Korea-like statelets.

It is near impossible for foreigners to enter the areas. Ukrainians can only visit if they have relatives in Donetsk and Luhansk, and would have to cross into Russia first, which takes about 30 hours and costs $100 – a journey that also involves bribing officials at times. Residents need a Soviet-era residency registration.

In the statelets, secret police and “loyal” residents monitor every word, phone call and text message.

Dissidents or businessmen who refuse to “donate” their assets to the “needs of the People’s Republic” have been thrown in “cellars”, or dozens of makeshift concentration camps, without trial.

“It looks like the 1930s in the Soviet Union, a classic gulag,” Stanislav Aseyev, a publicist who was kidnapped in 2017 in Donetsk and was sentenced by a separatist “court” to 15 years in jail for “espionage”, told Al Jazeera.

For almost two years, he was incarcerated and tortured in these “cellars” until separatists swapped him and dozens of other prisoners in 2017.

Thousands of others were tortured and abused in the “cellars”, according to rights groups and witnesses. The grave human rights abuses make Donetsk and Luhansk far worse than today’s Russia, an international human rights advocate said.

“The cellars where prisoners are held in Donetsk, and the widespread use of torture, are among the most obvious human rights issues,” said Ivar Dale, a senior policy adviser with the Norwegian Helsinki Committee, a human rights watchdog group.

But there are much wider problems such as civil and political rights, he said.

“You could say that the political repression in Russia is doubly felt in Donetsk and Luhansk and other areas effectively under control of the Putin regime,” Dale told Al Jazeera.

Rust-belt ruins

These tendencies have gone hand in hand with economic degradation.

The living standards are “many times, if not dozens of times worse than in pre-war 2013”, said Aseyev, 32, who now lives in Kyiv and has published a novel about the events in Donetsk.

This regress looks even more staggering considering Donetsk’s and Luhansk’s not-so-ancient history. The cities were founded by two Brits.

Englishman Charles Gascoigne built a metal factory in what is now Luhansk in 1795, shortly after czarist Russia annexed Crimea and eastern Ukraine from the Crimean Khanate, a mostly-Muslim vassal of Ottoman Turkey.

Decades later, in 1869, Welshman John Hughes started a steel plant and a coal mine in what is now Donetsk, and the city was named after him – Hughesovka or Yuzovka – until the Soviet era.

The birth and rapid growth of both cities followed the czarist government’s drive to develop the immense coal and iron ore deposits of what is now eastern Ukraine.

Communist Moscow further spurred the region’s development, and tens of thousands of ethnic Russians settled there, making urban areas almost exclusively Russian-speaking.

Coal and mines grew deeper next to hillocks made of spent ore, and foundries, chemical and power plants dotted the region.

The political heyday of Donetsk began in 2010, when its native Viktor Yanukovych became Ukraine’s president – and brought cohorts of his cronies to Kyiv.

They tried to wrestle control of Ukraine’s politics and economy – but triggered months-long protests that began in November 2013 and ended in February 2014, when the Ukrainian parliament voted to remove Yanukovych from office.

The protests are known in Ukraine as the Revolution of Dignity – but Russian President Vladimir Putin still calls them a “coup”.

‘Russian spring’

In the czarist era, the region was known as Novorossiya – or New Russia – and the Kremlin would use the name in 2014 as it proclaimed the “Russian Spring” or “liberation” of Russian-speaking regions in eastern and southern Ukraine.

But pro-Russian rallies and uprisings in Kharkiv, Ukraine’s second-largest city, and Odesa, its largest seaport on the Black Sea, failed.

However, thousands of Russian volunteers flocked to Donetsk and Luhansk to aid separatist militias – while many locals were ecstatic about the “Russian Spring”.

“Putin will come and restore order here,” one of their supporters, a rotund minibus driver named Valerii, told this reporter in April 2014 in Donetsk.

But four months later, after the separatists tried to confiscate his minibus, he locked his apartment, loaded the bus with his most valuable belongings, and left for Kyiv.

‘Price tag’

Even though Ukraine barred any economic ties to the separatist regions, they still exist – and even involve top politicians.

Pro-Western President Petro Poroshenko, who came to power after the Revolution of Dignity, admitted that he channeled government funds worth tens of millions of dollars in exchange for Donetsk coal in the winter of 2014-2015 because otherwise “half of Ukraine could have frozen”.

But Russia still had to bankroll the separatist provinces spending billions of dollars a year.

So, what are Moscow’s economic goals in Donbas?

“Very simple – to lower the price tag of maintaining the occupied territories,” Aleksey Kusch, a Kyiv-based analyst, told Al Jazeera.

To achieve that, Russia may want to remove the middlemen who pocketed the lion’s share of profits from the export of coal and steel and the delivery of humanitarian aid that was immediately resold on the black market.

“They kept up to 70 percent of the profits,” Kushch said.