[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR585.408]

[Page 840-841]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
     PART 585--FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) AND BOSNIAN SERB-CONTROLLED AREAS OF THE REPUBLIC OF BOSNIA AND HERZEGOVINA SANCTIONS 
REGULATIONS--Table of Contents
 
                       Subpart D--Interpretations
 
Sec. 585.408  Offshore transactions.

    (a) The prohibitions contained in Secs. 585.201 and 585.206 apply to 
transactions by U.S. persons in locations outside the United States with 
respect to property in which the U.S. person knows, or has reason to 
know, that s person whose property or interests in property are blocked 
pursuant to Sec. 585.201 has or has had an interest since the effective 
date specified in Sec. 585.301, or that such property is held in the 
name of a person whose property or interests in property are blocked 
pursuant to Sec. 585.201.
    (b) Prohibited transactions include, but are not limited to, 
importation into locations outside the United States of, or dealings 
within such locations in, goods or services originating in the FRY 
(S&M).
    (c) Examples: (1) A U.S. person may not, within the United States or 
abroad, purchase, sell, finance, insure,

[[Page 841]]

transport, act as a broker for the sale or transport of, or otherwise 
deal in, shoes made in the FRY (S&M).
    (2) A U.S. person may not, within the United States or abroad, 
conduct transactions of any nature whatsoever with an entity that the 
U.S. person knows or has reason to know is operated from the FRY (S&M) 
or owned or controlled by the Government of the FRY (S&M).

[58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995]