31 CFR § 560.539 - Official activities of certain international organizations.

Date issued: Sep. 30 2020

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TURBOFAC Commentary (907 words)

Notes:

*[5-16-2020 Update: see general discussion of the “official business” licenses at General Note on Exemptions and General Licenses for the “Official Business” of the U.S. Government (and/or United Nations) and Employees, Contractors, or Grantees Thereof]

1) Provision amended on 9-30-2020 to add "Note 1 to paragraph (a),"with text that effectively defines "United Nations" in a way that is consistent with similar sanctions provisions in other programs.

2) This GL, on its face, appears to allow for the facilitation of underlying transactions that are not subject to the prohibitions of the ITSR. See General Note and Associated Matrix Pertaining to U.S. Person Engagement in Transactions Incident to Transactions by Foreign Persons (System Ed. Note).

3) FUNDS TRANSFERS, RELATIONSHIP TO 560.516

With respect to funds transfers,...