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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter V - Office of Foreign Assets Control, Department of the Treasury |
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Part 589 - Ukraine Related Sanctions Regulations |
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Subpart E - Licenses, Authorizations, and Statements of Licensing Policy |
§ 589.515 - Operation of accounts for individuals ordinarily resident in the Crimea region of Ukraine.
Latest version.
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§ 589.515 Operation of accounts for individuals ordinarily resident in the Crimea region of Ukraine.
The operation of an account in a U.S. financial institution for an individual ordinarily resident in the Crimea region of Ukraine, other than an individual whose property and interests in property are blocked § 589.201, is authorized, provided that transactions processed through the account:
(a) Are of a personal nature and not for use in supporting or operating a business;
(b) Do not involve transfers, directly or indirectly, to the Crimea region of Ukraine or for the benefit of individuals ordinarily resident in the Crimea region of Ukraine unless authorized by § 589.514; and