Blocking Property and Prohibiting Transactions in Crimea Region of Ukraine
Dec 24, 2014
Signed by: Barack Obama
Signed on: Dec 19, 2014
Published on: Dec 24, 2014
Dec 24, 2014
Signed by: Barack Obama
Signed on: Dec 19, 2014
Published on: Dec 24, 2014
Summary
Stops U.S. persons from investing in, trading with, or providing services to the Crimea region of Ukraine and freezes the assets of certain people.
What problem does this solve?
Russia's occupation of the Crimea region of Ukraine created a national emergency for the United States. This order uses economic pressure to respond to the occupation by cutting off trade and investment with the region.
What does this order do?
Prohibits new investment in Crimea
Forbids any United States person from making new investments in the Crimea region of Ukraine.
Bans trade with Crimea
Stops the import of any goods, services, or technology from Crimea into the United States. Also bans the export of U.S. goods, services, or technology to Crimea.
Blocks property of certain persons
Freezes all property and interests in property within the U.S. for any person determined to be operating in Crimea or supporting the Russian occupation.
Suspends U.S. entry for sanctioned individuals
Prevents people whose property is blocked under this order from entering the United States, either as immigrants or nonimmigrants.
Prohibits helping others evade sanctions
Forbids U.S. persons from approving, financing, or facilitating any transaction by a foreign person that would be illegal if done by a U.S. person.
Who does this affect?
- Individuals and entities operating in the Crimea region of Ukraine
- United States persons and companies involved in international trade and investment
- Russian officials and their supporters
What is the real world impact?
•
Applies diplomatic pressure on Russia
Uses economic sanctions as a tool of foreign policy to punish Russia for its occupation of Crimea without using military force. This action signals strong disapproval of Russia's actions on the world stage.
•
Supports Ukrainian sovereignty
Demonstrates solidarity with Ukraine by refusing to recognize the Russian occupation and penalizing those who operate within the occupied territory. This helps to isolate the region economically from the U.S.
When does this start?
This order went into effect at 3:30 p.m. eastern standard time on December 19, 2014.