US Treasury has revised sanctions regime in Russia’s Crimea, allowing residents of the peninsula to operate US bank accounts. Crimeans will also be able to send and receive non-commercial personal money transfers.
Washington is easing the latest restrictions it imposed on
Crimeans on December 19, making concessions to those residents of
the peninsula that were not earlier specifically blacklisted by
the US.
READ MORE: Obama authorizes ‘economic embargo’ on
Russia’s Crimea
The updates to the sanctions, published Friday, allow Crimeans to have bank
accounts in the US.
“The operation of an account in a US financial institution
for an individual in the Crimea region… is authorized provided
that transactions processed through the account are of a personal
nature and not for use in supporting or operating a
business,” an executive order by Treasury’s Office of
Foreign Assets Control reads.
US citizens and banking institutions are allowed to transfer
money to and from Crimea on condition the transaction is
non-commercial.
“US persons…[and] US registered money
transmitters are authorized to process transfers of, funds to or
from the Crimea region… in cases in which the transfer involves a
noncommercial, personal remittance,” the Treasury said.
The document specifies that the allowed remittances “do not
include charitable donations of funds to or for the benefit of an
entity or funds transfers for use in supporting or operating a
business, including a family-owned business.”
According to updated sanctions transactions related to
telecommunications as well as mail and packages delivery are also
authorized by the Treasury.
What Americans are not allowed is to sell or to lease
telecommunications equipment and technology to Crimea residents.
Crimea held a referendum in March 2014, with 96 percent of voters
saying yes to secession from Ukraine and reunification with
Russia.
The United States and the EU have not recognized the referendum
results and have accused Russia of annexing Crimea. They have
imposed a series of economic sanctions on both Russia and Crimea.