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§ 505.501 Penalties.
(a) Section 5(b) of the United Nations Participation Act, as amended (UNPA) (22 U.S.C. 287c(b)), provides that any person who willfully violates or evades or attempts to violate or evade any order, rule, or regulation issued by the President pursuant to section 5(a) of the UNPA shall, upon conviction, be fined not more than $1,000,000 or, if a natural person, be imprisoned for not more than 20 years, or both.
(b) Violations involving transactions described in section 203(b)(1), (3), and (4) of IEEPA shall be subject only to the penalties set forth in paragraph (a) of this section.
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1) This is the UNPA-specific “penalties” provision. See 505.401 for the IEEPA provision. 505.501(b) is a reference to transactions that are exempt from regulation pursuant to IEEPA, such that OFAC is conveying that where a transaction is exempt from regulation pursuant to IEEPA, but prohibited pursuant to UNPA, the relevant penalties provision is 515.501(a) only.