WASHINGTON, January 31 (Sputnik) — US persons and banking institutions will be allowed to transfer money to and from Crimea so long as the transaction is non-commercial, the US Treasury announced Friday, revising the sanctions regime in the region.
The transfer cannot be “by, to, or through any person whose property and interests in property are blocked pursuant to” four executive order sanctions targeting Russian and Crimean individuals, entities and companies, the Treasury said.
Another revision clarifies “noncommercial, personal 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.”
In light of the situation with Crimea, the United States, European Union and a number of other countries imposed a series of sanctions against Moscow. The latest restrictions, imposed in December 2014, specifically target Crimea and include new sanctions against certain individuals and entities operating in the region.
Crimea seceded from Ukraine and joined Russia in March 2014 following a referendum, in which 96 percent of voters were in favour of reunifying with Russia. The US opposes the reunification and considers Crimea to be a part of Ukraine.
