OFAC FAQ (Current) # 1048 - Chinese Military Companies Sanctions

Date issued: Jun. 01 2022

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TURBOFAC Commentary (55 words)

Notes:

1) This FAQ confirms that the CMIC program, as a "less-than blocking" program, only requires USFIs to reject, rather than block otherwise prohibited transactions. There has never been any doubt as to this proposition from a technical perspective, but it is likely that OFAC received enough misplaced blocking reports to warrant the FAQ.