§ 594.201 Prohibited transactions involving blocked property.
(a) Except as authorized by statutes, regulations, orders, directives, rulings, instructions, licenses or otherwise, and notwithstanding any contracts entered into or any license or permit granted prior to the effective date, property and interests in property of the following persons that are in the United States, that hereafter come within the United States, or that hereafter come within the possession or control of U.S. persons, including their overseas branches, are blocked and may not be transferred, paid, exported, withdrawn or otherwise dealt in:
(1) Persons listed in the Annex to Executive Order (E.O.) 13224 of September 23, 2001, as amended;
(2) Foreign persons determined by the Secretary of State, in consultation with the Secretary of the Treasury, the Attorney General, and the Secretary of Homeland Security:
(i) To have committed or have attempted to commit, to pose...
[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].
*Update - provision amended on 7-1-22 to remove "otherwise associated with" as a basis for designation (i.e. being "otherwise associated with" SDGTs).
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1) Except as discussed below, this is a standard blocking prohibition, as it appears in a non-abbreviated set of sanctions regulations that incorporate into the regulations the primary and derivative designation criteria used to determine the range of persons with respect to which blocking prohibitions apply. Read in conjunction with 594.204 (Prohibited...