§ 552.406 - Offshore transactions involving blocked property.

§ 552.406 Entities owned by a person whose property and interests in property are blocked.

A person whose property and interests in property are blocked pursuant to § 552.201 has an interest in all property and interests in property of an entity in which it owns, directly or indirectly, a 50 percent or greater interest. The property and interests in property of such an entity, therefore, are blocked, and such an entity is a person whose property and interests in property are blocked pursuant to § 552.201, regardless of whether the entity itself is designated pursuant to Executive Order 13611.

Offshore transactions involving blocked property.

The prohibitions in § 552.201 on transactions or dealings involving blocked property, as defined in § 552.301, apply to transactions by any U.S. person in a location outside the United States.