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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter V - Office of Foreign Assets Control, Department of the Treasury |
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Part 500 - [Reserved] |
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Subpart D - Interpretations |
§ 500.406 - Drafts under irrevocable letters of credit; documentary drafts.
Latest version.
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Section 500.201 prohibits the presentation, acceptance or payment of:
(a) Drafts or other orders for payment drawn under irrevocable letters of credit issued in favor or on behalf of any designated national;
(b) Drafts or other orders for payment, in which any designated national has on or since the “effective date” had any interest, drawn under any irrevocable letter of credit; and
(c) Documentary drafts in which any designated national has on or since the “effective date” had any interest.