[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR587.201]

[Page 873-874]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 587_FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) MILOSEVIC 
SANCTIONS REGULATIONS--Table of Contents
 
                         Subpart B_Prohibitions
 
Sec. 587.201  Prohibited transactions involving blocked property.


    (a) Except as authorized by regulations, orders, directives, 
rulings, instructions, licenses or otherwise, and notwithstanding any 
contracts entered into or any license or permit granted prior to the 
effective date, property or interests in property of any person 
designated below that are in the United States, that hereafter come 
within the United States, or that are or hereafter come within the 
possession or control of U.S. persons, including their overseas 
branches, are blocked and may not be transferred, paid, exported, 
withdrawn or otherwise dealt in:
    (1) Any person listed in the Annex to Executive Order 13192 of 
January 17, 2001 (66 FR 7379, January 23, 2001); and
    (2) Any person determined by the Secretary of the Treasury, in 
consultation with the Secretary of State:
    (i) To be under open indictment by the International Criminal 
Tribunal for the former Yugoslavia, subject to applicable laws and 
procedures;
    (ii) To have sought, or to be seeking, through repressive measures 
or otherwise, to maintain or reestablish illegitimate control over the 
political processes or institutions or the economic resources or 
enterprises of the Federal Republic of Yugoslavia, the Republic of 
Serbia, the Republic of Montenegro or the territory of Kosovo;
    (iii) To have provided material support or resources to any person 
designated in the Annex to Executive Order 13192 or any person otherwise 
designated by the Secretary of the Treasury pursuant to this section; or
    (iv) To be owned or controlled by or acting or purporting to act 
directly or indirectly for or on behalf of any person designated in the 
Annex to Executive Order 13192 or any person otherwise designated by the 
Secretary of the Treasury pursuant to this section.

    Note to paragraph (a) of Sec. 587.201:
    Persons designated pursuant to Sec. 587.201(a)(1) or (2) are listed 
with the acronym [FRYM] in appendix A to 31 CFR chapter V. Section 
501.807 of this chapter V sets forth the procedures to be followed by 
persons seeking administrative reconsideration of their designation or 
who wish to assert that the circumstances resulting in designation no 
longer apply. Similarly, when a transaction results in the blocking of 
funds at a financial institution pursuant to this section and a party to 
the transaction believes the funds to have been blocked due to mistaken 
identity, that party may seek to have such funds unblocked pursuant to 
the administrative procedures set forth in Sec. 501.806 of this 
chapter.

    (b) Except as authorized by regulations, orders, directives, 
rulings, instructions, licenses or otherwise, and notwithstanding any 
contracts entered into or any license or permit granted prior to the 
effective date, any transaction or dealing by U.S. persons, wherever 
located, or within the United States in property or interests in 
property of any person designated in or pursuant to Sec. 587.201(a) are 
prohibited.
    (c) Unless otherwise authorized by this part or by a specific 
license expressly referring to this section, any dealing in any security 
(or evidence thereof) held within the possession or

[[Page 874]]

control of a U.S. person and either registered or inscribed in the name 
of or known to be held for the benefit of any person designated in or 
pursuant to Sec. 587.201(a) is prohibited. This prohibition includes 
but is not limited to the transfer (including the transfer on the books 
of any issuer or agent thereof), disposition, transportation, 
importation, exportation, or withdrawal of any such security or the 
endorsement or guaranty of signatures on any such security. This 
prohibition applies irrespective of the fact that at any time (whether 
prior to, on, or subsequent to the effective date) the registered or 
inscribed owner of any such security may have or might appear to have 
assigned, transferred, or otherwise disposed of the security.