31 CFR § 599.201 - Prohibited transactions.

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 (280 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 standard “Prohibited transactions” provision that appears as 5XX.201 in an -based sanctions authority containing blocking provisions. 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.

For discussion on the way in which this provision should be interpreted in the absence of full regulations, see General Note on "Abbreviated Regulations" and Executive Orders with Standard Blocking Prohibitions not yet Implemented in the (System Ed. Note). Note in addition that the purpose of these regulations is to provide aid in the administration of the part of the EO referred to that contains standard blocking regulations, which are interpreted harmoniously across sanctions programs. Refer to Notes Common to most "Prohibited transactions" and "Prohibited transactions involving blocked property" Provisions; an Introduction to the Basic Blocking Language (System Ed. Note). While discussed in the “Abbreviated Regulations” note, bear in mind that IEEPA exemptions do apply. See General Note on the Applicability of IEEPA/TWEA Exemptions in EOs and Sanctions Regulations not Specifically Mentioning Them (System Ed. Note).

2) See comments to Executive Order 14059, for comments on the EO the prohibitions of which are implemented in 599.201.

Welcome!

Welcome!

31 CFR § 599.201 - Prohibited transactions.

TURBOFAC Commentary (280 words)