Obama orders ban on Crimea trade

US President Barack Obama has ordered a ban on the export of goods, technology and services to Crimea, CNN reports. The executive order also imposes new sanctions on Russian and Ukrainian individuals and companies.

Mr. Obama said in a statement: “The executive order is intended to provide clarity to US corporations doing business in the region and reaffirm that the United States will not accept Russia’s occupation and attempted annexation of Crimea.”

In addition to the goods, technology and services ban, US individuals or companies cannot now buy any real estate or businesses in Crimea or fund Crimean firms. The new measures also include sanctions on 24 Ukrainian and Russian individuals and on a number of companies deemed to be destabilizing Ukraine.

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