OFAC PPT Presentation on URSR

Date issued: Jan. 01 2014

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TURBOFAC Commentary (129 words)

Notes:

1) Presentation notable for the jurisdictional statement at p. 4, stating that "In limited circumstances, transactions involving controlled U.S.-origin goods or technology" are subject to OFAC's jurisdiction. Compare Société Internationale de Télécommunications Aéronautiques SCRL (comment 5).

2) The standard definition of "U.S. person" is as follows:

"The term United States person or U.S. person means any United States citizen, lawful permanent resident, entity organized under the laws of the United States or any jurisdiction within the United States (including foreign branches), or any person in the United States..."

P. 5 is notable insofar as it clarifies/boils "person in the United States" down to "physically located in the United States". (Refer to Notes Common to most "United States person; U.S. person" Definitional Provisions).