§ 536.301 - Blocked account; blocked property.

§ 536.301 Blocked account; blocked property.

The terms blocked account and blocked property shall mean any account or property subject to the prohibition prohibitions in § 536.201 held in the name of a specially designated narcotics trafficker, or in which a specially designated narcotics trafficker such person has an interest, and with respect to which payments, transfers, exportations, withdrawals, or other dealings may not be made or effected except pursuant to an authorization or license from the Office of Foreign Assets Control authorizing such action. a license or other authorization from OFAC expressly authorizing such action.

Note 1 to § 536.301:

See § 536.312 concerning the blocked status of property and interests in property of an entity that is directly or indirectly owned, whether individually or in the aggregate, 50 percent or more by one or more specially designated narcotics traffickers.

[86 FR 26664, May 17, 2021]