Playing as the Russians I accepted the mission to annex Crimea which I then did. When the 5 years ended I got a msg saying that I lose victory points because I didn't. It either wanted me to annex the whole of the Crimea peninsula and not just the province labeled as Crimea (I didn't take Simerfpol (sp?) -- which is on the wrong side of the penisula but that's ok) or it didn't know that I had control of the specific province.
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I think it meant the country Crimea and not just the province (didn't know there was a province named Crimea though)
Rule of thumb: if the mission says 'Annex' then they mean to take over the entire country. If it says 'Conquer' then they mean just a specific province.