31 CFR § 542.212 Prohibited transactions involving foreign sanctions evaders.

Date issued: Jun. 05 2024

Last substantive commentary amendment:
Jun. 06 2024

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (193 words)

Notes:

1) This provision implements into the SySR the unusual non-blocking prohibition of EO 13608, at least insofar as the sanctions imposed pursuant to EO 13608 are related to Syria, and not Iran. EO 13608 was issued on 2012, and of 6-6-24, no persons are sanctioned pursuant to EO 13608. Refer generally to EO 13608, and comments thereto for comments on the designation criteria and scope of prohibitions.

2) Along with 542.212, other new and amended provisions in the SySR help implement EO 13608.

* 542.303 and 542.318 implement two definitions in EO 13608 used for designations.

* 542.415 specifies that “foreign persons will not be subject to sanctions pursuant to…542.212 solely on the basis of transaction for which a...