US Extends Certain Financial Activities in Crimea Until February: Treasury

WASHINGTON, December 31 (Sputnik) – The United States has authorized certain commercial operations for its nationals in Crimea for one more month, despite earlier imposed restrictions, in order to give US citizens more time to terminate their economic activities in the area, the US Department of Treasury has announced.

US nationals will be allowed to manage operations and contracts involving exportation, sale or supply of goods, services and technology until February 1, 2015. The measure is aimed at winding down or transferring "to a foreign person of a U.S. person's share of ownership, including an equity interest, in pre-December 20, 2014 investments" located in Crimea, the Treasury explained in a statement released Tuesday.

The document stressed that any new commercial and trade activities relating to Crimea are not authorized.

In addition, US citizens that are taking part in any transactions in Crimea are required to "to file a detailed report, including the parties involved, the type and scope of activities conducted, and the dates of the activities, with the Office of Foreign Assets Control, Licensing Division, U.S. Department of the Treasury" within 10 business days.

Washington and Brussels introduced several rounds of sanctions against Moscow following Crimea's reunification with Russia in March. The latest restrictions specifically target Crimea. On December 18, EU leaders banned all European investment in Crimea and the city of Sevastopol among other restrictions. A day later, President Barack Obama issued an executive order that essentially stipulates a US embargo of Crimea.