This works for any version of Premiere, going back to at least Premiere 6.0, which is what I started with almost 15 years ago (but let's be honest, if you're still using Premiere 6.0, it's time to upgrade).
Here, we're cropping a video with another behind it, producing a picture-in-picture effect. You can of course go without an asset behind it for a black background, of whatever your project calls for.
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Twitter:
www.Twitter.com/The_ChrisBryant
@The_ChrisBryant
My company:
www.EmpireStudiosNYC.com
Twitter:
www.Twitter.com/The_ChrisBryant
@The_ChrisBryant
My company:
www.EmpireStudiosNYC.com
My other company:
www.Studio12Academy.com