OFAC Regulatory Provisions - 31 CFR § 562.201

Ed. Note: if you’re new to TURBOFAC, please take note that the text string filtration function generally shouldn’t be used for terms such as “ordinarily resident,” “causing” or “new debt”. For research on the meaning of words and phrases such as those, i.e. terms central to the key legal issues in sanctions law that appear on a cross-programmatic basis, you’re typically better off locating and checking the appropriate box in the “Key Legal Issues” search category, which will limit the results to those that have been manually assessed as being relevant for the interpretation of the terms at issue.

Try typing your search term (“ordinarily resident,” “new debt,” or something else) in the “Find a Search Filter” box at the top of the page, and the corresponding “Key Legal Issues” check box will pop up instantly, if one exists. Once you check the box (e.g. “new debt,” with ~55 results), you can always use the text string filtration function to further refine your search (e.g. by typing “invoice” and narrowing the ~55 results to ~10).

Note in addition that the same applies to text string searches such as “14071” (if you’re looking for items related to EO 14071). By typing “14071” in the “Find a Search Filter” field up top, you will be able to instantly narrow the results down to items manually assessed as relating to EO 14071. Ditto terms such as “515.204” or “Iran General License G” (try the “Discrete Legal Provision” search category). Please contact [email protected] or [email protected] with any questions on search results and efficiency.

Please click "Apply Text String Filters" again after clicking the "Close" button immediately below.

TURBOFAC Commentary (668 words)

Notes:

[9-17-24 Update – OFAC published FR Notice Introducing Notes to 5XX.201 Provisions Related to Blocking Orders and Instructions, which amends 35 mostly “5XX.201” provisions to add two “notes” and amend one note that deals with blocking orders and notification requirements. See comments to the FR Notice for further details, and note that the regulatory provision will be amended once the amendment is implemented in the ECFR].

1) This is a relatively irregular "Prohibited transactions" provision as it implements two different executive orders that are, apart from the fact that they both pertain to Iran completely unrelated to each other. As is common in all such provisions in sets of "abbreviated" sanctions regulations, this provision incorporates by reference the prohibition in the or EOs listed as appendices to the associated sanctions regulations.
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31 CFR § 562.201 - Prohibited transactions.

TURBOFAC Commentary (668 words)