Adam Szubin, the director at the Office of Foreign Assets Control, has signed an exemption to the American ban on money going into the Crimea.

This is the sixth exemption to be issued to President Barack Obama's Executive Order of last month, which imposed a blanket ban on the export of goods, technology and services to Crimea. The recent exemption allows transfers of money as long as they are personal and not commercial. Many high-net-worth individuals might take advantage of this to supply family members (but not family businesses) in that peninsula, whereas before they had to seek express permission from the US Treasury to do so.

Obama is not keen on allowing countries other than his to conduct illegal invasions and was quick to impose sanctions after Russia's takeover in March last year. So far he has persuaded the European Union and Canada to impose sanctions of their own alongside his.

The text of the general licence reads: "US persons are authorized to send and receive, and US depository institutions, US registered brokers or dealers in securities, and US registered money transmitters are authorized to process transfers of, funds to or from the Crimea region of Ukraine or for or on behalf of an individual ordinarily resident in the Crimea region of Ukraine in cases in which the transfer involves a noncommercial, personal remittance, provided the transfer is not by, to, or through any person whose property and interests in property are blocked pursuant to Executive Order 13660 of March 6, 2014, Executive Order 13661 of March 17, 2014, Executive Order 13662 of March 20, 2014, or Executive Order 13685 of December 19, 2014."