Ukraine gives up 2015 Euro basketball championship

KIEV, Ukraine (AP) — Ukraine has pulled out of hosting next year's European basketball championship, citing political uncertainty over Russia's annexation of Crimea and financial reasons.

Organizing committee head Markiyan Lubkivsky says he "cannot imagine how to carry out preparations in the current severe economic and political conditions."

Ukraine was awarded the biennial 24-team championship in December 2011. The tournament would have been played in five Ukrainian cities.

France has offered to replace Ukraine as host. Ukraine now hopes to host the tournament in 2017.