This text of 31 C.F.R. § 599.201 (Prohibited transactions.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 599.201 Prohibited transactions.
All transactions prohibited pursuant to E.O. 14059 of December 15, 2021, or any further Executive orders issued pursuant to the national emergency declared in E.O. 14059 are prohibited pursuant to
this part.
Note 1 to § 599.201.
The names of persons designated or identified as 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 identifier formulation: “[ILLICIT-DRUGS-E.O.]-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.treas.gov/sdn. Additional information pertaining to the SDN List can be foun
Free access — add to your briefcase to read the full text and ask questions with AI
§ 599.201 Prohibited transactions.
All transactions prohibited pursuant to E.O. 14059 of December 15, 2021, or any further Executive orders issued pursuant to the national emergency declared in E.O. 14059 are prohibited pursuant to this part.
Note 1 to § 599.201.
The names of persons designated or identified as 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 identifier formulation: “[ILLICIT-DRUGS-E.O.]-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.treas.gov/sdn. Additional information pertaining to the SDN List can be found in appendix A to this chapter. See § 599.406 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 § 599.201.
The International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), 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 identifier formulation: “[BPI-[ILLICIT-DRUGS-E.O.]-E.O.[E.O. number pursuant to which the person's property and interests in property are blocked pending investigation]].”
Note 3 to § 599.201:
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 § 599.201.
The names of persons on whom non-blocking sanctions implemented by the Department of the Treasury are imposed pursuant to this section will be incorporated into a data file containing OFAC's Consolidated Non-SDN data and are provided in a human readable format on OFAC's Non-SDN Menu-Based Sanctions List (NS-MBS List) on the following page on OFAC's website: www.treas.gov/consolidated-sanctions-list-non-sdn-lists. These listings are published in the Federal Register and include specific information on the non-blocking sanctions imposed on such persons. However, for any persons on whom blocking and non-blocking sanctions are imposed pursuant to this section, such persons' names are instead incorporated into OFAC's SDN List using the identifier “[ILLICIT-DRUGS-E.O.-E.O.[E.O. number pursuant to which the person's property and interests in property are blocked]].”
Note 5 to § 599.201:
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 this section.
[87 FR 77712, Dec. 20, 2022, as amended at 89 FR 75968, Sept. 17, 2024]