OFAC Regulatory Provisions - 31 CFR § 589.201

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 (850 words)

Notes:

1) BACKGROUND

The version of this provision in force from 2014 up through 05-02-2022 was a standard “Prohibited transactions” provision appearing in a set of “abbreviated” regulations. Previously, it prohibited all transactions prohibited by EO 13660, 13661, and EO 13662, the latter of which included SSI Directive 1, SSI Directive 2, SSI Directive 3 and SSI Directive 4.

As explained in the preamble to the FR notice that introduces the amended (see PDF), the URSR was amended on 05-02-2022 so that this provision would, among other things, (i) incorporate EO 13685 (the Crimea embargo), (ii) incorporate the prohibition on dealings involving persons blocked pursuant to the

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31 CFR § 589.201 - Prohibited transactions.

TURBOFAC Commentary (850 words)