§ 551.201 Prohibited transactions.
(a) All property and interests in property that are in the United States, that come within the United States, or that are or come within the possession or control of any U.S. person of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in:
(1) The persons listed in the Annex to Executive Order (E.O.) 13536 of April 12, 2010; and
(2) Any person determined by the Secretary of the Treasury, in consultation with the Secretary of State to:
(i) Have engaged in acts that directly or indirectly threaten the peace, security, or stability of Somalia, including:
(A) Acts that threaten the Djibouti Agreement of August 18, 2008, or the political process;
(B) Acts that threaten the Transitional Federal Institutions or future Somali governing institutions, the African Union Mission in Somalia (AMISOM), or other future international peacekeeping operations related to Somalia;
(C) Acts to misappropriate Somali public assets; or
(D) Acts of piracy or armed robbery at sea off the coast of Somalia;
(ii) Have obstructed the delivery of humanitarian assistance to Somalia, or access to, or distribution of, humanitarian assistance in Somalia;
(iii) Have directly or indirectly supplied, sold, or transferred to Somalia, or to have been the recipient in the territory of Somalia of, arms or any related materiel, or any technical advice, training, or assistance, including financing and financial assistance, related to military activities;
(iv) Be responsible for or complicit in, or responsible for ordering, controlling, or otherwise directing, or to have participated in, the commission of acts of violence targeting civilians in Somalia, including killing and maiming, sexual and gender-based violence, attacks on schools and hospitals, taking hostages, and forced displacement;
(v) Be a political or military leader recruiting or using children in armed conflict in Somalia;
(vi) Have engaged, directly or indirectly, in the import or export of charcoal from Somalia on or after February 22, 2012;
(vii) Have materially assisted, sponsored, or provided financial, material, logistical, or technical support for, or goods or services in support of, the activities described in subsections (a)(2)(i) through (vi) of this section or any person whose property and interests in property are blocked pursuant to paragraph (a) of this section; or
(viii) Be owned or controlled by, or to have acted or purported to act for or on behalf of, directly or indirectly, any person whose property and interests in property are blocked pursuant to paragraph (a) of this section.
(b) The prohibitions in paragraph (a) of this section include prohibitions on the following transactions:
(1) The making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to paragraph (a) of this section; and
(2) The receipt of any contribution or provision of funds, goods, or services from any person whose property and interests in property are blocked pursuant to paragraph (a) of this section.
(c) Unless authorized by this part or by a specific license expressly referring to this part, any dealing in securities (or evidence thereof) held within the possession or control of a U.S. person and either registered or inscribed in the name of, or known to be held for the benefit of, or issued by, any person whose property and interests in property are blocked pursuant to paragraph (a) of this section is prohibited. This prohibition includes the transfer (including the transfer on the books of any issuer or agent thereof), disposition, transportation, importation, exportation, or withdrawal of, or the endorsement or guaranty of signatures on, any securities on or after the effective date. This prohibition applies irrespective of the fact that at any time (whether prior to, on, or subsequent to the effective date) the registered or inscribed owner of any such securities may have or might appear to have assigned, transferred, or otherwise disposed of the securities.
(d) The prohibitions in paragraph (a) of this section apply except to the extent provided by regulations, orders, directives, or licenses that may be issued pursuant to this part, and notwithstanding any contract entered into or any license or permit granted prior to the effective date.
(e) All transactions prohibited pursuant to any E.O. issued after July 20, 2012, pursuant to the national emergency declared in E.O. 13536 of April 12, 2010, are prohibited pursuant to this part.
Note 1 to § 551.201.
The names of persons listed in or designated or identified pursuant to amended E.O. 13536, or listed in or designated or identified pursuant to any further Executive orders issued pursuant to the national emergency declared in E.O. 13536, whose property and interests in property therefore are blocked pursuant to this section, are published in the Federal Register and incorporated into OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) using the following identifiers: For amended E.O. 13536: “[SOMALIA]” and for any further Executive orders issued pursuant to the national emergency declared in amended E.O. 13536: Using the identifier formulation “[SOMALIA-E.O.[E.O. number pursuant to which the person's property and interests in property are blocked]]”. The SDN List is accessible through the following page on OFAC's website: www.treasury.gov/sdn. Additional information pertaining to the SDN List can be found in appendix A to this chapter. See § 551.411 concerning entities that may not be listed on the SDN List but whose property and interests in property are nevertheless blocked pursuant to this section.
Note 2 to § 551.201.
The International Emergency Economic Powers Act (50 U.S.C. 1701-1706), in Section 203 (50 U.S.C. 1702), authorizes the blocking of property and interests in property of a person during the pendency of an investigation. Except as described in note 3 to this section, the names of persons whose property and interests in property are blocked pending investigation pursuant to this section are published in the Federal Register and incorporated into the SDN List using the following identifiers: For amended E.O. 13536: “[BPI-SOMALIA]” and for any further Executive orders issued pursuant to the national emergency declared in E.O. 13536: Using the identifier formulation “[BPI-SOMALIA-E.O.[E.O. number pursuant to which the person's property and interests in property are blocked pending investigation]].”
Note 3 to § 551.201:
In certain cases, OFAC may issue an order to: identify as blocked specific property or interests in property of a person designated or otherwise blocked pursuant to this section; block specific property or interests in property of a person pending investigation; or block or impose other prohibitions with respect to specific property or interests in property less than full blocking sanctions. Notice of such orders will be provided: by publication in the Federal Register; in writing to persons OFAC may assess to have an interest in the property; or by issuing an order or directive in writing to financial institutions or other transaction intermediaries, and requiring the recipient of the order or directive to promptly disclose it to affected persons with whom the recipient maintains direct commercial relationships. Inquiries regarding any such order should be directed to OFAC's Compliance Division at 202-622-2490 or https://ofac.treasury.gov/contact-ofac.
Note 4 to § 551.201:
Subpart E of part 501 of this chapter describes the procedures to be followed for the release of property and interests in property blocked pursuant to this section, including funds blocked due to mistaken identity or typographical or similar errors, and for administrative reconsideration of one's status as a person whose property and interests in property are blocked pursuant to paragraph (a) of this section.
[86 FR 22348, Apr. 28, 2021, as amended at 89 FR 75961, Sept. 17, 2024]