In summary, the order prohibits U.S. companies or individuals from:
- exporting or importing any goods, services or technology to or from Crimea,
- purchasing any real estate or businesses in Crimea,
- making any new investment in Crimea, or
- financing or facilitating any transaction by a foreign person in relation to Crimea, that would otherwise be prohibited if performed by a US person.
The Order also freezes any assets in the U.S. of individuals, determined by the U.S. Treasury Department, to be operating in Crimea. Announcing the Executive Order, President Obama stated that it was:
“intended to provide clarity to United States corporations doing business in the region and reaffirm that the United States will not accept Russia’s occupation and attempted annexation of Crimea.”
The Order builds on existing US measures related to Crimea, previously reported on this blog, that can be searched under the USA category.