[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR585.408]



[Page 359]

 

                  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 

 

                        Subpart D_Interpretations

 

Sec. 585.408  Offshore transactions.



    (a) The prohibitions contained in Sec. Sec. 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, 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]