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White & Case Ukraine News Update

Crimea-related Developments: OFAC Issues Authorizations for Certain Crimea-related Communications Activity and Personal Remittances; BIS Imposes License Requirement for Exports to Crimea

White & Case Ukraine News Update

On January 30, 2015, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued three General Licenses, authorizing certain personal remittances, the operation of personal accounts and certain mail and telecommunications transactions otherwise prohibited by Executive Order 13685 (EO 13685) "involving the Crimea region of Ukraine" or persons ordinarily resident in the "Crimea region of Ukraine." EO 13685 was issued on December 19, 2014, and broadly prohibited transactions with respect to the Crimea region of Ukraine. These General Licenses will permit certain transactions to continue even after the expiration of General License 5 at the end of January 31, 2015, which authorized the wind-down of transactions involving the Crimea region of Ukraine that became prohibited on December 19, 2014.

Separately, on January 29, 2015, the US Department of Commerce’s Bureau of Industry and Security (BIS) imposed a license requirement for the export or reexport to the Crimea region of Ukraine, and the transfer within the Crimea region of Ukraine, of all items subject to the Export Administration Regulations (EAR), other than certain food and medicine.

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