[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: 31CFR586.513]

[Page 868-869]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 586--FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA & MONTENEGRO) KOSOVO SANCTIONS REGULATIONS--Table of Contents
 
 Subpart E--Licenses, Authorizations, and Statements of Licensing Policy
 
Sec. 586.513  Certain transactions with respect to trade with blocked persons authorized.

    (a) U.S. persons may trade in goods in which a person whose property 
and interests in property are blocked pursuant to Sec. 586.201 has an 
interest, provided that the payment for the goods is made in bank notes 
and coins of any

[[Page 869]]

currency or by barter. Any open account credit terms may not exceed 30 
days. Transactions relating to services incident to this trade in goods, 
including payment for shipping and insurance to non-blocked entities, 
are authorized.
    (b) Example: A U.S. company located outside of Serbia may ship goods 
to Serbia in exchange for bank notes and coins or under a barter 
arrangement in exchange for Serbian goods, exchanged directly with the 
U.S. company or assigned to a third company in satisfaction of an 
obligation owed that party by the U.S. company. Except as provided in 
Sec. 586.408 or otherwise specifically authorized, however, the U.S. 
company may not establish or use an account at a financial institution 
within the territory of the Republic of Serbia in connection with any 
trade transaction described in this section.