[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: 31CFR586.513]



[Page 387]

 

                  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 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.