31 C.F.R. PART 585—FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) AND BOSNIAN SERB-CONTROLLED AREAS OF THE REPUBLIC OF BOSNIA AND HERZEGOVINA SANCTIONS REGULATIONS
Title 31 - Money and Finance: Treasury
Authority: 3 U.S.C. 301; 22 U.S.C. 287c; 31 U.S.C. 321(b); 49 U.S.C. 40106; 50 U.S.C. 1601–1651, 1701–1706; Pub. L. 101–410, 104 Stat. 890 (28 U.S.C. 2461 note); E.O. 12808, 57 FR 23299, 3 CFR, 1992 Comp., p. 305; E.O. 12810, 57 FR 24347, 3 CFR, 1992 Comp., p. 307; E.O. 12831, 58 FR 5253, 3 CFR, 1993 Comp., p. 576; E.O. 12846, 58 FR 25771, 3 CFR, 1993 Comp., p. 599; E.O. 12934, 59 FR 54117, 3 CFR, 1994 Comp., p. 930; E.O. 13304, 68 FR 32315, May 29, 2003.
Source: 58 FR 13201, Mar. 10, 1993, unless otherwise noted.
(a) This part is separate from, and independent of, the other parts of this chapter with the exception of part 501 of this chapter, the recordkeeping and reporting requirements and license application and other procedures of which apply to this part. Differing foreign policy and national security contexts may result in differing interpretations of similar language among the parts of this chapter. No license or authorization contained in or issued pursuant to those other parts authorizes any transaction prohibited by this part. No license or authorization contained in or issued pursuant to any other provision of law or regulation authorizes any transaction prohibited by this part. (b) No license or authorization contained in or issued pursuant to this part relieves the involved parties from complying with any other applicable laws or regulations. [58 FR 13201, Mar. 10, 1993, as amended at 62 FR 45110, Aug. 25, 1997] (a) Except as authorized by regulations, orders, directives, rulings, instructions, licenses, or otherwise, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or any contract entered into or any license or permit granted before 11:59 p.m. Eastern Daylight Time (“EDT”), May 30, 1992, no property or interest in property of the Government of the FRY (S&M), or that is held in the name of the Federal Republic of Yugoslavia or the former Government of the Socialist Federal Republic of Yugoslavia, that is in the United States, that hereafter comes within the United States, or that is or hereafter comes within the possession or control of U.S. persons, including their overseas branches, may be transferred, paid, exported, withdrawn or otherwise dealt in. (b) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or any contract entered into or any license or permit granted before 12:01 a.m. EDT, April 26, 1993, no property or interest in property of any commercial, industrial, or public utility undertakings or entities organized or located in the Federal Republic of Yugoslavia (Serbia and Montenegro), including, without limitation, the property and all interests in property of entities (wherever organized or located) owned or controlled by such undertakings or entities, that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of United States persons, including their overseas branches, may be transferred, paid, exported, withdrawn or otherwise dealt in. (c) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreementor any contract entered into or any licence or permit granted before 11:59 p.m. EDT, October 25, 1994, no property or interest in property of the following persons that is in the United States, that hereafter comes within the United States, or that is or hereafter comes within the possession or control of United States persons, including their overseas branches, may be transferred, paid, exported, withdrawn, or otherwise dealt in: (1) The Bosnian Serb military and paramilitary forces and the authorities in those areas of the Republic of Bosnia and Herzegovina under the control of those forces; (2) Any entity, including any commercial, industrial, or public utility undertaking, organized or located in those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces; (3) Any entity, wherever organized or located, which is owned or controlled directly or indirectly by any person in, or resident in, those areas of the Republic of Bosnia and HErzegovona under the control of Bosnian Serb forces; and (4) Any person acting for or on behalf of any person included within the scope of paragraphs (c)(1), (2), or (3) of this section. Note to paragraph (d) Unless otherwise authorized by this part or by a specific license expressly referring to this section, the transfer (including the transfer on the books of any issuer or agent thereof), the endorsement or guaranty of signatures on, or any other dealing in any security (or evidence thereof) registered or inscribed in the name of the Government of the Federal Republic of Yugoslavia or the former Government of the Socialist Federal Republic of Yugoslavia and held within the possession or control of a U.S. person is prohibited, irrespective of the fact that at any time either at or subsequent to the effective date the registered or inscribed owner thereof may have, or appears to have, assigned, transferred, or otherwise disposed of any such security. (e) When a transaction results in the blocking of funds at a financial institution pursuant to this section and a party to the transaction believes the funds have been blocked due to mistaken identity, that party may seek to have such funds unblocked pursuant to the administrative procedures set forth in §501.806 of this chapter. [58 FR 13201, Mar. 10, 1993, as amended at 58 FR 35828, July 1, 1993; 60 FR 34145, June 30, 1995; 61 FR 32938, June 26, 1996; 62 FR 45110, Aug. 25, 1997] (a) Any transfer after the effective date specified in §585.301 which is in violation of any provision of this part or of any regulation, order, directive, ruling, instruction, licance, or other authorization hereunder and involves any property or interest in property blocked pursuant to §585.201 is null and void and shall not be the basis for the assertion or recognition of any interest in or right, remedy, power or privilege with respect to such property or property interests. (b) No transfer before the effective date shall be the basis for the assertion or recognition of any right, remedy, power, or privilige with respect to, or interest in, any property or interest in property blocked pursuant to §585.201, unless the person with whom such property is held or maintained, prior to such date, had written notice of the tranfer or by any written evidence had recognized such transfer. (c) Unless otherwise provided, an appropriate license or other authorization issued by or pursuant to the direction or authorization of the Director of the Office of Foreign Assets Control before, during, or after a transfer shall validate such transfer or render it enforceable to the same extent that it would be valid or enforceable but for the provisions of the International Emergency Economic Powers Act, the United Nations Participation Act, this part, and any regulation, order, directive, ruling, instruction, or license issued hereunder. (d) Transfers of property which otherwise would be null and void or unenforceable by virtue of the provisions of this section shall not be deemed to be null and void or unenforceable as to any person with whom such property was held or maintained (and as to such person only) in cases in which such person is able to establish to the satisfaction of the Director of the Office of Foreign Assets Control each of the following: (1) Such transfer did not represent a willful violation of the provisions of this part by the person with whom such property was held or maintained; (2) The person with whom such property was held or maintained did not have reasonable cause to know or suspect, in view of all the facts and circumstances known or available to such person, that such transfer required a license or authorization by or pursuant to this part and was not so licensed or authorized, or if a license or authorization did purport to cover the transfer, that such license or authorization had been obtained by misrepresentation of a third party or the withholding of material facts or was otherwise fraudulently obtained; and (3) Promptly upon discovery that (i) Such transfer was in violation of the provisions of this part or any regulation, ruling, instruction, license, or other direction or authorization hereunder, or (ii) Such transfer was not licensed or authorized by the Director of the Office of Foreign Assets Control, or (iii) If a license did purport to cover the transfer, such license had been obtained by misrepresentation of a third party or the withholding of material facts or was otherwise fraudulently obtained; the person with whom such property was held or maintained filed with the Office of Foreign Assets Control a report setting forth in full the circumstances relating to such transfer. The filing of a report in accordance with the provisions of this paragraph shall not be deemed evidence that the terms of paragraphs (d) (1) and (2) of this section have been satisfied. (e) Unless licenced or authorized pursuant to this part, any attachment, judgement, decree, lien, execution, garnishment, or other judicial process is null and void with respect to any property or interest in property blocked pursuant to §585.201. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34145, June 30, 1995] (a)(1) Any person, including a U.S. financial institution, currently holding property subject to §585.201, which, as of July 15, 1992, or the date of receipt if subsequent to July 15, 1992, is not being held in an interest-bearing account or otherwise invested in a manner authorized by the Office of Foreign Assets Control, shall transfer such property to, or hold such property or cause such property to be held in, an interest-bearing account or interest-bearing status in a U.S. financial institution as of July 15, 1992, or the date of receipt if subsequent to July 15, 1992, unless otherwise authorized or directed by the Office of Foreign Assets Control. (2) The requirement set forth in paragraph (a)(1) of this section shall apply to currency, bank deposits, accounts, obligations, and any other financial or economic resources or assets, and any proceeds resulting from the sale of tangible or intangible property. If interest is credited to an account separate from that in which the interest-bearing asset is held, the name of the account party on both accounts must be the same and must clearly indicate the person(s) having an interest in the accounts. If the account is held in the name of the Government of the Federal Republic of Yugoslavia or the former Government of the Socialist Federal Republic of Yugoslavia, the name of the account to which interest is credited must be the same. (b) For purposes of this section, the term “interest-bearing account” means a blocked account in a U.S. financial institution earning interest at rates that are commercially reasonable for the amount of funds in the account, i.e., a rate similar to that currently offered other depositors on deposits of comparable size and maturity. Overnight investment of blocked funds is authorized, provided that the funds remain within the possession and control of the U.S. person holding the funds and that the funds remain in a blocked status at all times. Except as otherwise authorized, the funds may not be re-invested or held in instruments the maturity of which exceeds 90 days. (c) U.S. financial institutions receiving instructions to execute a payment or transfer of funds they hold in which a person has an interest whose property or interests in property are blocked pursuant to §585.201, shall block the funds and provide written notification to the Compliance Programs Division, Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW.–2131 Annex, Washington, DC 20220, within 10 business days from the value date of the payment or transfer. The notification shall include a photocopy of the payment or transfer instructions received, shall confirm that the payment or transfer has been deposited into an existing or newly-established blocked account, and shall provide the account number, the name of the account, the location of the account, the name and address of the transferor and transferee financial instructions, the date of the deposit and the amount of the payment or transfer. (d) This section does not apply to blocked tangible property, such as chattels, nor does it create an affirmative obligation on the part of the holder of such blocked tangible property to sell or liquidate the property and put the proceeds in a blocked account. However, the Office of Foreign Assets Control may issue licenses permitting or directing sales of tangible property in appropriate cases. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34145, June 30, 1995] Except as otherwise authorized, no goods originating in, or services performed in, the FRY (S&M), exported from the FRY (S&M) after May 30, 1992, may be imported into the United States, nor may any U.S. person engage in any activity that promotes or is intended to promote such importation. Except as otherwise authorized, no goods, technology (including technical data or other information controlled for export pursuant to the Export Administration Regulations, 15 CFR parts 768–799), or services, either (a) from the United States, (b) requiring the issuance of a license by a Federal agency, or (c) involving the use of U.S.-registered vessels or aircraft, may be exported, directly or indirectly, to the FRY (S&M), or to any entity operated from the FRY (S&M), or owned or controlled by the Government of the FRY (S&M), nor may any U.S. person engage in any activity that promotes or is intended to promote such exportation. Except as otherwise authorized, no U.S. person may deal in: (a) Property originating in the FRY (S&M) and exported from the FRY (S&M) after May 30, 1992, or (b) Property intended for exportation from the FRY (S&M) to any country, or for exportation to the FRY (S&M) from any country, or (c) Property being transshipped through the FRY (S&M), or in any activity of any kind that promotes or is intended to promote such dealing. Except as otherwise authorized, the following are prohibited: (a) Any transaction by a U.S. person, or involving the use of U.S. registered vessels and aircraft, relating to transportation to or from the FRY (S&M); (b) The provision of transportation to or from the United States by: (1) Any person in the FRY (S&M) or (2) Any vessel or aircraft registered in the FRY (S&M), or (3) Any vessel in which a majority or controlling interest is held by a person or entity in or operating from the FRY (S&M), regardless of registry; or (c) The sale in the United States by any person holding authority under the Federal Aviation Act of 1958, as amended (49 U.S.C. 1301 et seq.) of any transportation by air that includes any stop in the FRY (S&M). (d) Example. Unless licensed or exempted, no U.S. person may insure, or provide ticketing, ground, port, refueling, bunkering, clearance, or freight forwarding services with respect to, (i) Any sea or air transportation the destination of which is the FRY (S&M), or which is intended to make a stop in the FRY (S&M), or (ii) Any vessel in which a majority or controlling interest is held by a person or entity in or operating from the FRY (S&M). Except as otherwise authorized, no aircraft, regardless of registry, may take off from, land in, or overfly the United States, if the aircraft, as part of the same flight or as a continuation of that flight, is destined to land in or has taken off from the territory of the FRY (S&M). See also: Special Federal Aviation Regulation (SFAR) No. 66, 14 CFR part 91. Except as otherwise authorized, no U.S. person may perform any contract, including a financing contract, in support of an industrial, commercial, public utility, or governmental project in the FRY (S&M). Except as otherwise authorized, no U.S. person may commit or transfer, directly or indirectly, funds or other financial or economic resources to or for the benefit of the Government of the FRY (S&M) or any person in the FRY (S&M). Except as otherwise authorized, transactions in the United States or by a U.S. person related to participation in sporting events in the United States by persons or groups representing the FRY (S&M) are prohibited. Except as otherwise authorized, transactions in the United States or by a U.S. person related to scientific and technical cooperation and cultural exchanges involving persons or groups officially sponsored by or representing the FRY (S&M), or related to visits to the United States by such persons or groups other than as authorized for the purpose of participation at the United Nations, are prohibited. Any activities related to the United Nations Protection Force (UNPROFOR), the Conference on Yugoslavia, or the European Community Monitor Mission are exempt from the prohibitions and regulations of this part. Any transaction for the purpose of, or which has the effect of, evading or avoiding, or which facilitates the evasion or avoidance of, any of the prohibitions set forth in this subpart, is hereby prohibited. Any attempt to violate the prohibitions set forth in this part is hereby prohibited. Any conspiracy formed for the purpose of engaging in a transaction prohibited by this part is hereby prohibited. (a) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or any contract entered into or any license or permit granted before 12:01 a.m. EDT, April 26, 1993, all vessels, freight vehicles, rolling stock, aircraft and cargo that are in or hereafter come within the United States and are not subject to blocking pursuant to §585.201, but which are suspected of a violation of United Nations Security Council Resolutions No. 713 (1991), 757 (1992), 787 (1992) or 820 (1993): (1) Shall be detained, pending investigation; and, (2) Upon a determination by the Director, Office of Foreign Assets Control, that they have been in violation of any of these resolutions, may not be transferred, moved, exported, withdrawn, or otherwise dealt in. (b) Conveyances and cargoes blocked pursuant to paragraph (a) of this section may be liquidated as provided in §585.216. [58 FR 35829, July 1, 1993] (a) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or any contract entered into or any license or permit granted before 12:01 a.m. EDT, April 26, 1993, all expenses incident to the blocking and maintenance of property blocked pursuant to §585.201 or §585.215(a) shall be charged to the owners or operators of such property, which expenses shall not be met from blocked funds. (b) Property blocked pursuant to §585.201 or §585.215 may, in the discretion of the Director, Office of Foreign Assets Control, be sold or liquidated and the net proceeds shall be placed in a blocked interest-bearing account in the name of the owner of the property. [58 FR 35829, July 1, 1993] Except as otherwise authorized by the Director of the Office of Foreign Assets Control pursuant to this part, no vessel registered in the United States or owned or controlled by U.S. persons, other than a United States naval vessel, may enter: (a) The territorial waters of the FRY (S&M); or (b) The riverine ports of those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces. [60 FR 34145, June 30, 1995] The following are prohibited, except as otherwise authorized by the Director of the Office of Foreign Assets Control pursuant to this part: (a) Any dealing by a United States person relating to the importation from, exportation to, or transshipment of goods through the United Nations Protected Areas in the Republic of Croatia and those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces, or activity of any kind that promotes or is intended to promote such dealing (see §585.524); and (b) The provision or exportation of services to those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces, or to any oerson for the purpose of any business carried on in those areas, either from the United States or by a United States person. [60 FR 34145, June 30, 1995] The term effective date refers to the effective date of the applicable prohibitions and directives contained in subpart B as follows: (a) With respect to §§585.201 (a) and (d), 585.202, and 585.214, 11:59 p.m. EDT, May 30, 1992; (b) With respect to §§585.204, 585.205, 585.206, 585.207, 585.208, 585.209, 585.210, 585.211, 585.212, and 585.213, 12:20 p.m. EDT, June 5, 1992, except as provided in paragraph (d) of this section; (c) With respect to §585.203, July 15, 1992; (d) With respect to §585.206(c) and §585.207(b)(3), January 15, 1993; (e) With respect to §§585.201(b), 585.215, 585.216, 585.217(a), and 585.218(a), 12:01 a.m. EDT, April 26, 1993; and (f) With respect to §§585.201(c), 585.217(b), and 585.218(b), 11:59 p.m. EDT, October 25, 1994. [58 FR 13201, Mar. 10, 1993, as amended at 58 FR 35829, July 1, 1993; 60 FR 34146, June 30, 1995] The terms blocked account and blocked property shall mean any account and any property or interest in property blocked pursuant to §585.201 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. [60 FR 34146, June 30, 1995] Except as otherwise provided in this part, the term interest when used with respect to property (e.g., an interest in property) means an interest of any nature whatsoever, direct or indirect. The terms property and property interest include, but are not limited to, money, checks, drafts, bullion, bank deposits, savings accounts, debts, indebtedness, obligations, notes, guarantees, debentures, stocks, bonds, coupons, any other financial instruments, bankers acceptances, mortgages, pledges, liens or other rights in the nature of security, warehouse receipts, bills of lading, trust receipts, bills of sale, any other evidences of title, ownership or indebtedness, letters of credit and any documents relating to any rights or obligations thereunder, powers of attorney, goods, wares, merchandise, chattels, stocks on hand, ships, goods on ships, real estate mortgages, deeds of trust, vendors sales agreements, land contracts, leaseholds, ground rents, real estate and any other interest therein, options, negotiable instruments, trade acceptances, royalties, book accounts, accounts payable, judgments, patents, trademarks or copyrights, insurance policies, safe deposit boxes and their contents, annuities, pooling agreements, services of any nature whatsoever, contracts of any nature whatsoever, and any other property, real, personal, or mixed, tangible or intangible, or interest or interests therein, present, future or contingent. The term transfer means any actual or purported act of transaction, whether or not evidenced by writing, and whether or not done or performed within the United States, the purpose, intent, or effect of which is to create, surrender, release, convey, transfer, or alter, directly or indirectly, any right, remedy, power, privilege, or interest with respect to any property, including funds, and, without limitation upon the foregoing, shall include the making, execution, or delivery of any assignment, power, conveyance, check, declaration, deed, deed of trust, power of attorney, power of appointment, bill of sale, mortgage, receipt, agreement, contract, certificate, gift, sale, affidavit, or statement; the making of any payment; the setting off of any obligation or credit; the appointment of any agent, trustee, or fiduciary; the creation or transfer of any lien; the issuance, docketing, filing, or the levy of or under any judgment, decree, attachment, injunction, execution, or other judicial or administrative process or order, or the service of any garnishment; the acquisition of any interest of any nature whatsoever by reason of a judgment or decree of any foreign country; the fulfillment of any condition; the exercise of any power of appointment, power of attorney, or other power; or the acquisition, disposition, transportation, importation, exportation, or withdrawal of any security. Except as otherwise specified, the term license means any license or authorization contained in or issued pursuant to this part. The term general license means any license or authorization the terms of which are set forth in this subpart E. The term specific license means any license or authorization not set forth in subpart E but issued pursuant to this part in response to an application. The term person means an individual, partnership, association, corporation, or other organization. The term entity includes a corporation, partnership, association, or other organization. The term Government of the FRY (S&M) includes: (a) The state and the Government of the FRY (S&M), the Government of Serbia, and the Government of Montenegro, including any subdivisions thereof or local governments therein, their respective agencies or instrumentalities, including the National Bank of Yugoslavia, the Yugoslav National Army, the Yugoslav Chamber of Economy, the National Bank of Serbia, the Serbian Chamber of Economy, the National Bank of Montenegro, and the Montenegrin Chamber of Economy; (b) Any entity owned or controlled by the foregoing. For purposes of the prohibitions of this part, all entities located in or organized under the laws of any jurisdiction within the FRY (S&M) are presumed to be controlled by the Government of the FRY (S&M), unless proven otherwise; (c) Any person to the extent that such person is, or has been, or to the extent that there is reasonable cause to believe that such person is, or has been, since the effective date, acting or purporting to act, directly or indirectly, on behalf of any of the foregoing; and (d) Any person or organization determined by the Director of the Office of Foreign Assets Control to be included within this section, or owned or controlled by such a person or organization. Note to §585.311: Please refer to the appendices at the end of this chapter for listings of persons designated pursuant to this part, and pursuant to §585.201(c) with respect to the Bosnian Serbs. Section 501.807 of this chapter sets forth the procedures to be followed by persons seeking administrative reconsideration of their designation, or who wish to assert that the circumstances resulting in the designation are no longer applicable. [58 FR 13201, Mar. 10, 1993, as amended at 61 FR 32938, June 26, 1996; 62 FR 45110, Aug. 25, 1997] The term Government of the Socialist Federal Republic of Yugoslavia is used in this part only in reference to property held in the name of the former Government of the Socialist Federal Republic of Yugoslavia. Property and property interests held solely in the name of the Government of Slovenia, Croatia, Bosnia-Hercegovina or Macedonia, or in the name of any political subdivision, agency, or instrumentality thereof, do not constitute property held in the name of the former Government of the Socialist Federal Republic of Yugoslavia. The term Federal Republic of Yugoslavia (Serbia and Montenegro) or FRY (S&M) means the territory of Serbia and Montenegro. The term goods or services originating in the FRY (S&M) includes: (a) Goods produced, manufactured, grown, or processed within the FRY (S&M); (b) Goods which have entered into the commerce of the FRY (S&M); (c) Services performed in the FRY (S&M), or by a national thereof, wherever located, who is acting as an agent, employee, or contractor of the Government of the FRY (S&M) or of a business entity located in the FRY (S&M). Such services are not considered imported into the United States when such services are provided in the United States by a national of the FRY (S&M) employed in the United States who is not acting on behalf of the Government of the FRY (S&M). The term person in the FRY (S&M) includes any individual, partnership, association, corporation, or other organization or entity located in or organized under the laws of any jurisdiction in the FRY (S&M). The term United States means the United States, its territories and possessions, and all areas under the jurisdiction or authority thereof. The term United States person or U.S. person means any United States citizen; permanent resident alien; juridical person organized under the laws of the United States or any jurisdiction within the United States, including foreign branches; or any person in the United States, and vessels and aircraft of U.S. registration. The term U.S. financial institution means any U.S. person (including foreign branches) that is engaged in the business of accepting deposits, making, granting, transferring, holding, or brokering loans or credits, or purchasing or selling foreign exchange, securities, commodity futures or options, or procuring purchasers and sellers thereof, as principal or agent; including, but not limited to, depository institutions, banks, savings banks, trust companies, securities brokers and dealers, commodity futures and options brokers and dealers, forward contract and foreign exchange merchants, securities and commodities exchanges, clearing corporations, investment companies, employee benefit plans, and U.S. holding companies, U.S. affiliates, or U.S. subsidiaries of any of the foregoing. This term includes those branches, offices and agencies of foreign financial institutions which are located in the United States, but not such institutions' foreign branches, offices, or agencies. The term UNSC Resolution 757 means United Nations Security Council Resolution No. 757, adopted May 30, 1992, prohibiting certain transactions with respect to the FRY (S&M). Except as otherwise specified, reference to any section of this part or to any regulation, ruling, order, instruction, direction, or license issued pursuant to this part shall be deemed to refer to the same as currently amended. Any amendment, modification, or revocation of any section of this part or of any order, regulation, ruling, instruction, or license issued by or under the direction of the Director of the Office of Foreign Assets Control shall not, unless otherwise specifically provided, be deemed to affect any act done or omitted to be done, or any civil or criminal suit or proceeding commenced or pending prior to such amendment, modification, or revocation. All penalties, forfeitures, and liabilities under any such order, regulation, ruling, instruction, or license shall continue and may be enforced as if such amendment, modification, or revocation had not been made. (a) Whenever a transaction licenced or authorized by or pursuant to this part results in the transfer of property (including any property interest) from a person whose property or property interests are blocked pursuant to §585.201, such property shall no longer be deemed to be property blocked pursuant to §585.201, unless there exists in the property another interest that is blocked pursuant to §585.201 or any other part of this chapter, the transfer of which has not been effected pursuant to license or other authorization. (b) Unless otherwise specifically provided in a license or authorization issued pursuant to this part, if property (including any property interest) is transferred or attempted to be transferred to a person whose property or property interests are blocked pursuant to §585.201, such property shall be deemed to be property in which that person has an interest and therefore blocked. [60 FR 34146, June 30, 1995] No debits may be made to a blocked account to pay obligations to U.S. persons or other persons, including payment for goods, technology or services exported prior to the effective date, except as authorized pursuant to this part. No U.S. person may acquire or deal in any obligation, including bankers acceptances and debt of or guaranteed by the a person whose property or interests in property are blocked pursuant to §585.201, where the documents evidencing the obligation indicate, or the U.S. person has actual knowledge, that the underlying transaction is in violation of §585.201, §§585.204–585.212, and §§585.217–585.218. This interpretation does not apply to obligations arising from an underlying transaction licensed or otherwise authorized pursuant to this part. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995] (a) The prohibition in §585.210 applies to the unlicenced renewal of credits or loans held in the name of a person whose property or interests in property are blocked pursuant to §585.201 that were in existence on the effective date, whether by affirmative action or operation of law. (b) The prohibition in §585.210 applies to credits or loans extended in any currency. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995] Except as otherwise specified, payments are authorized in connection with transactions authorized in or pursuant to subpart E. (a) The prohibitions contained in §§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 §585.201 has or has had an interest since the effective date specified in §585.301, or that such property is held in the name of a person whose property or interests in property are blocked pursuant to §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] (a) The prohibitions in §585.205 apply to the importation into the United States, for transshipment or transit, of goods which are intended or destined for the FRY (S&M), or an entity operated from the FRY (S&M), or to the Government of the FRY (S&M) in any country. (b) The prohibitions in §585.204 apply to the importation into the United States, for transshipment or transit, of goods originating in the FRY (S&M) which are intended or destined for third countries. (c) Goods in which the Government of the FRY (S&M) has an interest that are imported into or transshipped through the United States are blocked pursuant to §585.201. Importation into the United States from third countries of goods containing raw materials or components originating in the FRY (S&M) is prohibited. In light of the universal prohibition in UNSC Resolution 757 on the importation of goods exported from the FRY (S&M) after May 30, 1992, substantial transformation or incorporation of such goods in a third country does not exempt the third-country products from the prohibitions contained in this part. Exportation of goods or technology (including technical data and other information) from the United States to third countries is prohibited if the exporter knows, or has reason to know, that the goods or technology are intended for reexportation or transshipment to the FRY (S&M), including passage through, or storage in, intermediate destinations. The exportation of goods and technology intended specifically for incorporation or substantial transformation into a third-country product is also prohibited if the particular product is to be used in the FRY (S&M), is being specifically manufactured to fill an order from the FRY (S&M), or if the manufacturer's sales of the particular product are predominantly to the FRY (S&M). Section 585.204 does not prohibit the release from a bonded warehouse or foreign trade zone of goods originating in the FRY (S&M) imported into a bonded warehouse or a foreign trade zone either prior to the effective date or in a transaction authorized pursuant to this part after the effective date. (Note: property blocked pursuant to §585.201 may not be released unless authorized or licensed by the Office of Foreign Assets Control.) [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995] Goods originating in the FRY (S&M) imported into the United States pursuant to an authorization or license are not blocked by the provisions of §585.201. However, any payment in connection with such importation is subject to the prohibitions contained in §§585.201 and 585.210. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995] Services performed in the FRY (S&M), or by the Government of the FRY (S&M), as defined in §585.312, are imported into the United States when the benefit of such services is received in the United States. Services performed in the FRY (S&M) or by the Government of the FRY (S&M) for the benefit of a U.S. person outside the United States are prohibited pursuant to §§585.201 and 585.206. Services provided in the United States by a national of the FRY (S&M) resident in the United States and not acting on behalf of the Government of the FRY (S&M) are not imported into the United States. A setoff against blocked property (including a blocked account), whether by a U.S. bank or other U.S. person, is a prohibited transfer under §585.201 if effected after May 30, 1992. (a) The prohibition on the exportation of services contained in §585.205 applies to services performed: (1) In the United States; (2) Outside the United States by an entity located in the United States, including its overseas branches; or (3) Outside the United States by an individual U.S. person ordinarily resident in the United States; on behalf of the Government of the FRY (S&M), or where the benefit of such services is otherwise received in the FRY (S&M). The benefit of services performed anywhere in the world on behalf of the Government of the FRY (S&M), including services performed for a controlled entity or specially designated national of the Government of the FRY (S&M), is presumed to be received in the FRY (S&M). (b) The prohibitions contained in §§585.201 and 585.209 apply to services performed by U.S. persons, wherever located: (1) On behalf of the Government of the FRY (S&M); (2) With respect to property interests of the Government of the FRY (S&M); or (3) In support of an industrial or other commercial or governmental project in the FRY (S&M). (c) Example: U.S. persons may not, without specific authorization from the Office of Foreign Assets Control, represent an individual or entity with respect to contract negotiations, contract performance, commercial arbitration, or other business dealings with the Government of the FRY (S&M). See §585.517 on licensing policy with regard to the provision of certain legal services. (a) Any transaction ordinarily incident to a licensed transaction and necessary to give effect thereto is also authorized, except a transaction by an unlicensed, blocked person or involving an unlicensed debit to a blocked account. (b) Example: A license authorizing an exportation of goods to the FRY (S&M) also authorizes all activities by other parties required to complete the sale, including transactions by the buyer, brokers, transfer agents, banks, etc. Any vessel in which a majority or controlling interest is held by a person or entity in, or operating from the FRY (S&M) shall be considered as a vessel of the FRY (S&M) regardless of the flag under which the vessel sails. [58 FR 35829, July 1, 1993] Executive Order 12846 does not affect the provisions of licenses and authorizations issued pursuant to Executive Order 12808, 12810 or 12831 or this part by the Office of Foreign Assets Control and in force as of 12:01 a.m. EDT, April 26, 1993, except as such licenses or authorizations are thereafter terminated, modified or suspended by the Director, Office of Foreign Assets Control. [58 FR 35829, July 1, 1993] Sections 585.201(c) and 585.218(b) prohibit U.S. financial institutions from committing or transfering, directly or indirectly, funds or other financial or economic resources to or for the benefit of any person whose property or interests in property are blocked pursuant to §585.201(c). [60 FR 34146, June 30, 1995] For provisions relating to licensing procedures, see part 501, subpart E, of this chapter. Licensing actions taken pursuant to part 501 of this chapter with respect to the prohibitions contained in this part are considered actions taken pursuant to this part. [68 FR 53659, Sept. 11, 2003] (a) No license or other authorization contained in this part, or otherwise issued by or under the direction of the Director of the Office of Foreign Assets Control, shall be deemed to authorize or validate any transaction effected prior to the issuance of the license, unless specifically provided in such license or authorization. (b) No regulation, ruling, instruction, or license authorizes any transaction prohibited under this part unless the regulation, ruling, instruction, or license is issued by the Office of Foreign Assets Control and specifically refers to this part. No regulation, ruling, instruction, or license referring to this part shall be deemed to authorize any transaction prohibited by any provision of this chapter unless the regulation, ruling, instruction or license specifically refers to such provision. (c) Any regulation, ruling, instruction, or license authorizing any transaction otherwise prohibited under this part has the effect of removing a prohibition or prohibitions contained in subpart B from the transaction, but only to the extent specifically stated by its terms. Unless the regulation, ruling, instruction, or license otherwise specifies, such an authorization does not create any right, duty, obligation, claim, or interest in, or with respect to, any property which would not otherwise exist under ordinary principles of law. The Director of the Office of Foreign Assets Control reserves the right to exclude any person, property, or transaction from the operation of any license, or from the privileges therein conferred, or to restrict the applicability thereof with respect to particular persons, property, transactions, or classes thereof. Such action shall be binding upon all persons receiving actual or constructive notice of such exclusion or restriction. (a) Any payment of funds or transfer of credit or other financial or economic resources or assets into a blocked account in a U.S. financial institution is authorized, provided that a transfer from a blocked account pursuant to this authorization may only be made to another blocked account held in the same name on the books of the same U.S. financial institution. (b) This section does not authorize any transfer from a blocked account within the United States to an account held outside the United States. Note to §585.503: Please refer to §501.603 of this chapter for mandatory reporting requirements regarding financial transfers. [58 FR 13201, Mar. 10, 1993, as amended at 58 FR 47647, Sept. 10, 1993; 62 FR 45110, Aug. 25, 1997] U.S. financial institutions are hereby authorized to invest and reinvest assets blocked pursuant to §585.201, subject to the following conditions: (a) The assets representing such investments and reinvestments are credited to a blocked account or subaccount which is held in the same name at the same U.S. financial institution, or within the possession or control of a U.S. person, but in no case may funds be transferred outside the United States for this purpose; and (b) The proceeds of such investments and reinvestments are not credited to a blocked account or subaccount under any name or designation which differs from the name or designation of the specific blocked account or subaccount in which such funds or securities were held; and (c) No immediate financial or economic benefit accrues (e.g., through pladging or other use) to any person whose property or interests in property are blocked pursuant to §585.201. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995] (a) Persons other that those whose property or interests in property are blocked pursuant to §585.201 are authorized to buy, sell, amd satisfy obligations with respect to bankers acceptances, and to pay under deferred payment undertakings, ralating to a proprty interest blocked pursuant to §585.201, as long as the bankers acceptances were created or the deferred payment undertakings were incurred prior to the effective date. (b) Persons other that those whose property or interests in property are blocked pursuant to §585.201 are authorized to buy, sell, amd satisfy obligations with respect to bankers acceptances, and to pay under deferred payment undertakings, relating to the importation or exportation of goods to or from the FRY (S&M) that do not involve a property interest blocked pursiant to §585.201, as long as the bankers acceptances or the deferred payment undertakings were accepted prior to the effective date. (c) Nothing in this section shall authorize or permit a debit to a blocked account. Specific licenses for the debiting of a blocked account may be issued on a case-by-case basis. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34146, June 30, 1995] (a) The transfer of funds after the effective date by, through, or to any U.S. financial institution or other U.S. person not blocked pursuant to this chapter solely for the purpose of payment of obligations of a person whose property or interests in property are blocked pursuant to §585.201 to persons or oaccounts within the United States is authorized, provided that the obligation arose prior to the effective date, and the payment requires no debit to a blocked account. Property is not blocked by virtue of bein transferred or received pursuant to this section. (b) A person receiving payment under this section may distribute all or part of that payment to any person, provided that any such payment to a person whose property or interests in property are blocked pursuant to §585.201 must be to a blocked account in U.S. financial institution. (c) The authorization in this section is subject to the condition that written notification from the U.S. financial institution or U.S. person transferring or receiving funds is furnished to the Blocked Assets Division, Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW.—Annex, Washington, DC 20220, within 10 business days from the date of transfer or receipt. The notification shall provide the account number, name and address of the transferor and/or transferee U.S. financial institution or person, and the account number, name and address of the person into whose account payment is made. [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34147, June 30, 1995] (a) All transactions ordinarily incident to the exportation of any item, commodity, or product from the United States to or destined for the FRY (S&M) are authorized if: (1) Such exports would ordinarily be authorized under one of the following regulations administered by the Department of Commerce: 15 CFR 771.6—General license BAGGAGE (accompanied and unaccompanied baggage); 15 CFR 771.13—General license GUS (shipments to personnel and agencies of the U.S. Government); or, (2) Such exports are for the official use of the United Nations, its personnel and agencies (excluding its relief or development agencies). (b) All transactions related to exportation or reexportation not otherwise authorized in this part are prohibited unless licensed by the Office of Foreign Assets Control pursuant to the procedures described in §585.801. The importation of household and personal effects originating in the FRY (S&M), including baggage and articles for family use, of persons arriving in the United States directly or indirectly from the FRY (S&M) is authorized. Articles included in such effects may be imported without limitation provided they were actually used by such persons or their family members abroad, are not intended for any other person or for sale, and are not otherwise prohibited from importation. (a) All transactions by U.S. persons involving secondary market trading in debt obligations, or portions thereof, as well as “Qualified Transactions” that result in the cancellation of Refinancing Loans, or portions thereof, originally incurred or transferred to banks (“Pre-sanctions Obligors”) organized and headquartered in the Republics of Slovenia, Croatia, Bosnia-Hercegovina, and Macedonia, prior to the effective date, and rescheduled pursuant to the “New Financing Agreement” of September 20, 1988 (the “NFA”), are authorized, notwithstanding the joint and several liability undertaken by the National Bank of Yugoslavia and/or of banks located in the FRY (S&M), for repayment of such obligations. (b) Nothing in this section shall authorize trading in debt obligations, or portions thereof, subject to the NFA for which the Pre-sanctions Obligor was the National Bank of Yugoslavia or an entity organized or headquartered in Serbia or Montenegro. (c) No transfer of debt obligations, or portions thereof, for which the National Bank of Yugoslavia or a bank located in the FRY (S&M) has joint or several liability may be completed unless the transferee undertakes in writing that the debt obligations will not be further transferred to or for the benefit of the Government of the FRY (S&M), including the National Bank of Yugoslavia, or any person in the FRY (S&M), until permitted by U.S. law. (d) A U.S. person involved in the transfer of any debt obligation for which the National Bank of Yugoslavia or an entity located in the FRY (S&M) has joint or several liability must file a report with the Blocked Assets Division, Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW.—Annex, Washington, DC 20220, within 10 days of the transfer, providing: (1) The names and addresses of the transferor, transferee and the U.S. person involved if neither of the foregoing; (2)(i) A copy of the “Refinancing Loan Notice” required pursuant to the NFA concerning the debt obligation transferred, and (ii) If a Pre-sanctions Obligor located or headquartered in Serbia or Montenegro, including the National Bank of Yugoslavia, is included in a consortium of obligors identified in a “Refinancing Loan Notice” for the debt obligation transferred, a copy of the transferor's confirmation(s) that each portion of the debt obligation transferred is that of a Pre-sanctions Obligor organized and headquartered in the Republic of Slovenia, Croatia, Bosnia-Hercegovina, or Macedonia; and (3) A certification that the transfer documents include the transferee's undertaking required in paragraph (c) of this section. [58 FR 13201, Mar. 10, 1993, as amended at 58 FR 35829, July 1, 1993] (a) Specific licenses may be issued on a case-by-case basis to permit payment involving an irrevocable letter of credit issued or confirmed by a U.S. bank, or a letter of credit reimbursement confirmed by a U.S. bank, from a blocked account or otherwise, of amounts owed to or for the benefit of a person with respect to goods or services exported prior to May 30, 1992, directly or indirectly to the FRY (S&M), or to third countries for an entity operated from the FRY (S&M), or for the benefit of the Government of the FRY (S&M), where the license application presents evidence satisfactory to the Office of Foreign Assets Control that the exportation occurred prior to the effective date (such evidence may include, for example, the bill of lading, the air waybill, the purchaser's written confirmation of completed services, customs documents, and insurance documents). (b) This section does not authorize exportation or the performance of services after the effective date pursuant to a contract entered into or partially performed prior to the effective date. (c) Separate criteria may be applied to the issuance of licenses authorizing payment from an account of or held by a blocked U.S. bank owned or controlled by the Government of the FRY (S&M). (a) The extension or renewal, at the request of the account party, of a letter of credit or a standby letter of credit issued or confirmed by a U.S. financial institution is authorized, provided no transfer of funds is made except to a blocked account. (b) Transactions conducted pursuant to this section must be reported to the Blocked Assets Division, Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW.—Annex, Washington, DC 20220, within 10 days after completion of the transaction. (a) All transactions by U.S. persons related to nonbusiness travel to, from, and within the FRY (S&M) are authorized, including the booking of travel arrangements, the payment of living expenses, and the acquisition of goods for personal consumption within the FRY (S&M), provided that no such transactions may involve transportation by air into or out of the FRY (S&M). (b) All transactions by U.S. persons related to travel to, from, and within, and to activities within, the FRY (S&M) for the conduct of the official business of the United States Government or the United Nations and journalistic activity by persons regularly employed in such capacity by a newsgathering organization, are authorized, provided that no such transactions may involve transportation by air into or out of the FRY (S&M). (c) This section does not authorize U.S. persons to utilize charge cards, including, but not limited to, debit cards, credit cards or other credit facilities in the FRY (S&M) in connection with any transaction authorized by this section. This section also does not authorize payments to be sent into the FRY (S&M) from the United States or by a U.S. person located outside the FRY (S&M). [58 FR 13201, Mar. 10, 1993, as amended at 60 FR 34147, June 30, 1995] (a) All transactions of U.S. common carriers with respect to the receipt and transmission of telecommunications involving the FRY (S&M) are authorized, provided any payment owed to the Government of the FRY (S&M) or to any other person in the FRY (S&M) is paid into a blocked account in a U.S. financial institution. This section does not authorize the exportation of equipment to upgrade telecommunications facilities. (b) The term “telecommunications” shall mean telephone, telex and telegraph transmissions, and transmissions for the gathering or broadcast of news. All transactions by U.S. persons, including payment and transfers to common carriers, incident to the receipt or transmission of mail between the United States and the FRY (S&M) are authorized. For purposes of this authorization, mail is limited to personal communications not involving a transfer of anything of value, and publications and other informational materials, subject to a maximum weight limitation of 12 ounces. (a) All of the following transactions in connection with patent, trademark, copyright, or other intellectual property protection in the United States or the FRY (S&M) are authorized. (1) The filing and prosecution of any application for a patent, trademark or copyright, or for the renewal thereof; (2) The receipt of any patent, trademark or copyright; and (3) The filing and prosecution of opposition or infringement proceedings with respect to any patent, trademark, or copyright, and the prosecution of a defense to any such proceeding. (b) The payment of reasonable and customary fees currently due to the United States Government or to attorneys or representatives within the United States in connection with any transaction authorized by paragraphs (a) (1)–(3) of this section may be made from a blocked account held in the name of the entity in the FRY (S&M) holding the patent, trademark or copyright. (c) The payment of fees currently due to the Government of the FRY (S&M) directly or through an attorney or representative, in connection with any of the transactions authorized by paragraphs (a) (1)–(3) of this section, or for the maintenance of any patent, trademark, or copyright, must be made into a blocked account in a domestic U.S. financial institution in the name of the appropriate governmental entity. In addition, fees currently due to individual attorneys or representatives in the FRY (S&M) in connection with any of the transactions authorized by paragraphs (a) (1)–(3) of this section may not be transferred to the FRY (S&M), but may otherwise be transferred as authorized in §585.523. (d) Payments of amounts due into a blocked account in the name of the Government of the FRY (S&M) must be reported to the Blocked Assets Division, Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW.—Annex, Washington, DC 20220. The report shall include the date and amount deposited, the account title, the account number, and the name and address of the U.S. financial institution. Goods awaiting exportation to the FRY (S&M) on the effective date and seized or detained by the U.S. Customs Service on the effective date or thereafter may be released to the exporter, provided the following documents are filed with Customs officials at the port where such goods are located: (a) A copy of the contract governing the exportation (sale or other transfer) of the goods to the FRY (S&M) or, if no contract exists, a written explanation of the circumstances of exportation, including in either case a description of the manner and terms of payment received or to be received by the exporter (or other person) for, or by reason of, the exportation of the goods; (b) An invoice, bill of lading, or other documentation fully describing the goods; and (c) A statement by the exporter substantially in the following form:
Any amount received from or on behalf of the Government of the FRY (S&M) by reason of the attempted exportation of the goods released to [name of exporter] by the U.S. Customs Service on [date], and fully described in the attached documents, has been or will be placed into a blocked account in a U.S. bank and the Office of Foreign Assets Control, Blocked Assets Section, will be immediately notified. [Name of exporter] agrees to fully indemnify the U.S. Government for any amount ultimately determined by a court of competent jurisdiction to be due or payable to or for the benefit of any person by reason of the failure of [name of exporter] to properly pay into a blocked account any amount received for the goods from or on behalf of the Government of the FRY (S&M). [Name of exporter] also agrees to waive all claims (1) against any payments received and placed into a blocked account, except as may be later authorized by law, regulations, or license, and (2) against the U.S. Government with regard to the disposition of the amounts placed into a blocked account. The statement should be dated and signed by the exporter or by a person authorized to sign on the exporter's behalf. The Customs Service may release the goods to the exporter upon receipt of the documentation and statement described above, provided it is satisfied that all customs laws and regulations have been complied with, including the execution of such hold harmless assurances as it shall determine to be appropriate. The documentation and statement received by Customs will be forwarded to the Office of Foreign Assets Control for review and appropriate action. (a) The provision to the Government of the FRY (S&M), or to a person in the FRY (S&M), of the legal services set forth in paragraph (b) of this section is authorized, provided that all receipt of payment therefor must be specifically licensed. The provision of any other legal services as interpreted in §585.416 requires the issuance of a specific license. (b) Specific licenses are issued, on a case-by-case basis, authorizing receipt, from unblocked sources, of payment of professional fees and reimbursement of incurred expenses for the following legal services by U.S. persons to the Government of the FRY (S&M) or to a person in the FRY (S&M): (1) Provision of legal advice and counselling to the Government of the FRY (S&M) or to a person in the FRY (S&M) on the requirements of and compliance with the laws of any jurisdiction within the United States, provided that such advice and counselling is not provided to facilitate transactions in violation of subpart B of this part; (2) Representation of the Government of the FRY (S&M) or of a person in the FRY (S&M) when named as a defendant in or otherwise made a party to domestic U.S. legal, arbitration, or administrative proceedings; (3) Initiation of domestic U.S. legal, arbitration, or administrative proceedings in defense of property interests subject to U.S. jurisdiction of the Government of the FRY (S&M) that were in existence prior to May 30, 1992, or of a person in the FRY (S&M); (4) Representation of the Government of the FRY (S&M) or a person in the FRY (S&M) before any federal agency with respect to the imposition, administration, or enforcement of U.S. sanctions against the FRY (S&M); and (5) Provision of legal services in any other context in which prevailing U.S. law requires access to legal counsel at public expense. (c) Enforcement of any domestic lien, judgment, arbitral award, decree, or other order through execution, garnishment or other judicial process purporting to transfer or otherwise alter or affect a property interest of the Government of the FRY (S&M) is prohibited unless specially licensed in accordance with §585.202(e). (a) Notwithstanding any other provision of law, payment into a blocked account in a U.S. financial institution by an issuing or confirming bank under a standby letter of credit in favor of a beneficiary that is the Government of the FRY (S&M) or a person in the FRY (S&M) is prohibited by §585.201 and not authorized, notwithstanding the provisions of §585.503, if (1) The account party is a U.S. person; and (2)(i) A specific license has been issued pursuant to the provisions of paragraph (b) of this section, or (ii) 10 business days have not expired after notice to the account party pursuant to paragraph (b) of this section. (b) Whenever an issuing or confirming bank shall receive such demand for payment under such a standby letter of credit, it shall promptly notify the account party. The account party may then apply within 5 business days for a specific license authorizing the account party to establish a blocked account on its books in the name of the FRY (S&M) beneficiary in the amount payable under the credit, in lieu of payment by the issuing or confirming bank into a blocked account and reimbursement therefor by the account party. Nothing in this section relieves any such bank or such account party from giving any notice of defense against payment or reimbursement that is required by applicable law. (c) Where there is outstanding a demand for payment under a standby letter of credit, and the issuing or confirming bank has been enjoined from making payment, upon removal of the injunction, the account party may apply for a specific license for the same purpose and in the same manner as that set forth in paragraph (b) of this section. The issuing or confirming bank shall not make payment under the standby letter of credit unless: (1) 10 business days have expired since the bank has received notice of the removal of the injunction, and (2) A specific license issued to the account party pursuant to the provisions of this paragraph has not been presented to the bank. (d) If necessary to assure the availability of the funds blocked, the Director of the Office of Foreign Assets Control may at any time require the payment of the amounts due under any letter of credit described in paragraph (a) of this section into a blocked account in a U.S. financial institution or the supplying of any form of security deemed necessary. (e) Nothing in this section precludes the account party on any standby letter or credit or any other person from at any time contesting the legality of the demand from a beneficiary in the FRY (S&M) or from raising any other legal defense to payment under the standby letter of credit. (f) This section does not affect the obligation of the various parties to the instruments covered by this section if the instruments and payments thereunder are subsequently unblocked. (g) This section does not authorize any U.S. person to reimburse a non-U.S. bank for payment to an FRY (S&M) beneficiary under a standby letter of credit, except by payments into a blocked account in accordance with §585.503 or paragraph (b) or (c) of this section. (h) A person receiving a specific license under paragraph (b) or (c) of this section shall certify to the Office of Foreign Assets Control within 5 business days after receipt of that license that it has established the blocked account on its books as provided in those paragraphs. However, in appropriate cases, this time period may be extended upon application to the Office of Foreign Assets Control when the account party has filed a petition with an appropriate court seeking a judicial order barring payment by the issuing or confirming bank. (i) For the purposes of this section: (1) The term standby letter of credit shall mean a letter of credit securing performance of a contract, or repayment of any advance payments or deposits under a contract, or any similar obligation in the nature of a performance bond; (2) The term account party shall mean the person for whose account the standby letter of credit was opened; and (3) The term FRY (S&M) beneficiary shall mean a beneficiary that is (i) a person in the FRY (S&M), (ii) an entity operated from the FRY (S&M), or (iii) the Government of the FRY (S&M). All transactions ordinarily incident to the importation of any goods or services into the United States, which are not for resale, and which are destined for official or personal use by personnel employed by the diplomatic missions of the Government of the FRY (S&M) to the United States and to international organizations located in the United States are authorized, unless the importation is otherwise prohibited by law. (a) U.S. financial institutions are hereby authorized to: (1) Debit any blocked account on their books in payment or reimbursement for normal service charges owed to such U.S. financial institution by the owner of such blocked account; and (2) Make book entries against any foreign currency account maintained by it with a financial institution in the FRY (S&M) for the purpose of responding to debits to such account for normal service charges in connection therewith. (b) As used in this section, the term normal service charge shall include charges in payment or reimbursement for interest due; cable, telegraph, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and, but not by way of limitation, minimum balance charges, notary and protest fees, and charges for reference books, photocopies, credit reports, transcripts of statements, registered mail insurance, stationery and supplies, check books, and other similar items. (a) Specific licenses may be issued on a case-by-case basis to permit exportation to the FRY (S&M) of donated food intended to relieve human suffering. (b) In general, specific licenses will only be granted for donations of food to be provided through the United Nations in accordance with UNSC Resolution 757 and in cooperation with the International Committee of the Red Cross or other appropriate humanitarian agencies for distribution by them or under their supervision, or in such other manner as may be approved under UNSC Resolution 757 and any other applicable Security Council resolutions, in order to ensure that such donations reach the intended beneficiaries. (c) Applications for specific licenses pursuant to paragraph (a) of this section shall be made in advance of the proposed exportation, and provide the following information: (1) The nature, quantity, value, and intended use of the donated food; and (2) The terms and conditions of distribution, including the intended method of compliance with such terms and conditions of distribution as may have been adopted by the United Nations Security Council or a duly authorized body subordinate thereto to govern the shipment of foodstuffs under applicable United Nations Security Council resolutions, including UNSC Resolution 757. (a) Specific licenses may be issued on a case-by-case basis to permit exportation to the FRY (S&M) of donated supplies intended strictly for medical purposes, in accordance with the provisions of UNSC Resolution 757 and other applicable Security Council resolutions. (b) In general, specific licenses will only be granted for the exportation of medical supplies through the International Committee of the Red Cross or other appropriate humanitarian agencies for distribution by them or under their supervision, or in such other manner as may be approved under applicable Security Council resolutions, in order to ensure that such supplies reach the intended recipient. (c) Applications for specific licenses pursuant to paragraph (a) of this section shall be made in advance of the proposed exportation, and provide the following information: (1) The nature, quantity, value, and intended use of the medical supplies; (2) The terms and conditions of distribution, including the intended method of compliance with such terms and conditions of distribution as may have been adopted by the United Nations Security Council or a duly authorized body subordinate thereto to govern the shipment of medical supplies under applicable Security Council resolutions. All transactions are authorized by U.S. financial institutions that are not blocked, including their foreign branches, for the benefit of individuals located in the FRY (S&M) provided that such transactions do not result in the transfer of funds to or for the benefit of the Government of the FRY (S&M) or to persons in the FRY (S&M). (a) Specific licenses may be issued on a case-by-case basis to permit exportation to, or transshipment through, the United Nations Protected Areas in the Republic of Croatia and those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces of essential humanitarian supplies, including medical supplies and foodstuffs, distributed by international humanitarian agencies. Applications for specific licenses shall be made in accordance with §585.522(c). (b) Specific licenses may be issued on a case-by-case basis to permit importation from, exportation to, or transshipment through the United Nations Protected Areas in the Republic of Croatia and those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces of any other goods, only upon a determination by the Director of the Office of Foreign Assets Control that such activities have been properly authorized by the Government of the Republic of Croatia or the Government of the Republic of Bosnia and Herzegovina, respectively. [58 FR 35829, July 1, 1993, as amended at 60 FR 34147, June 30, 1995] (a) Notwithstanding the provisions of subpart B of this part, transactions and activities otherwise prohibited by §§585.201(a), (b) and (d) (blocked property), 585.204 (imports), 585.205 (exports), 585.206 (dealing in exports and imports), 585.207 (transportation-related transactions), 585.208 (aircraft), 585.209 (performance of contracts), 585.210 (transfer of funds), 585.211 (sporting events), 585.212 (scientific and technical cooperation, cultural exchanges), 585.215 (detention of conveyances and cargo), 585.217(a) (entry of U.S. vessels into territorial waters), 585.218(a) (insofar as that paragraph relates to trade in the United Nations Protected Areas of Croatia), and the restrictions on certain travel-related transactions (including those for commercial travel) delineated in §585.512, are hereby authorized on or after January 16, 1996, provided that no such transaction results in a debit to an account blocked prior to December 27, 1995, or a transfer of property blocked prior to December 27, 1995, unless such debit or transfer is independently authorized by or pursuant to this part. (b)(1) All provisions of §585.509 continue to apply to debt for which the National Bank of Yugoslavia or a bank located in the FRY (S&M) bears joint or several liability and which, immediately prior to January 16, 1996, was held in the United States or was within the possession or control of a U.S. person, except that the certification and reporting requirements contained in §585.509(c) and (d)(3) no longer apply to transactions with or for the benefit of persons with respect to whom the blocking provisions of §585.201(a),(b) and (d) have been suspended pursuant to this section. (2) Transactions by U.S. persons involving debt for which the National Bank of Yugoslavia or a bank located in the FRY (S&M) bears joint or several liability but that was not held in the United States or within the possession or control of a U.S. person immediately prior to January 16, 1996 are authorized, provided that no debit or transfer to a blocked account is authorized. (c) Transactions and activities prohibited by §§585.201(c) (blocked property), 585.217(b) (entry of U.S. vessels into riverine ports), 585.218(a) (insofar as that paragraph relates to trade in Bosnian Serb-controlled areas of Bosnia and Herzegovina), and 585.218(b) (services to Bosnian Serb-controlled areas), remain prohibited and are not authorized by this section. (d) The authorizations contained in this section do not eliminate the need to comply with regulatory requirements not administered by the Office of Foreign Assets Control, including aviation, financial and trade requirements administered by other federal agencies. [61 FR 1284, Jan. 19, 1996] (a) U.S. financial institutions are authorized to unblock and return to the remitting party funds which came into their possession or control through wire transfer instructions or check remittances that were not destined for an account on the books of a U.S. financial institution, which account was established by a person whose property or interests in property were blocked immediately prior to January 16, 1996 pursuant to §585.201 (a “blocked person”), provided that the funds may not be so unblocked and returned if they were remitted by or through a blocked person. (b)(1) Nothing in this section authorizes the unblocking and release of funds destined for credit: (i) To accounts established by blocked persons on the books of U.S. financial institutions; or (ii) To Beogradska Banka d.d. New York Agency or Jugobanka d.d. New York Agency for further credit to account holders. Both banks are blocked persons. (2) Funds described in paragraph (b)(1) of this section that are not already held in an account described in paragraph (b)(1)(i) must be transferred to such an account by January 29, 1996, where the funds must be maintained in blocked status pursuant to §585.201. Nothing in this section authorizes transfers involving property or property interests blocked pursuant to §585.201(c) (blocking property and interests in property of the Bosnian Serb forces and authorities in the areas of the Republic of Bosnia and Herzegovina such forces control; entities organized or located in those areas; entities owned or controlled directly or indirectly by any person in, or resident in, those areas; and any person acting for or on behalf of any of the foregoing persons). [61 FR 1284, Jan. 19, 1996] (a) Notwithstanding the provisions of subpart B of this part, transactions and activities otherwise prohibited by §§585.201(c) (blocked property), 585.217(b) (entry of U.S. vessels into riverine ports), 585.218(a) (insofar as that paragraph relates to trade in Bosnian Serb-controlled areas of Bosnia and Herzegovina), and 585.218(b) (services to Bosnian Serb-controlled areas), are hereby authorized on or after May 10, 1996, provided that no such transaction results in a debit to an account blocked prior to May 10, 1996, or a transfer of property blocked prior to May 10, 1996, unless such debit or transfer is independently authorized by or pursuant to this part. (b) The authorizations contained in this section do not eliminate the need to comply with regulatory requirements not administered by the Office of Foreign Assets Control, including aviation, financial and trade requirements administered by other federal agencies. [61 FR 24697, May 16, 1996] (a) All transactions with respect to the following vessels are authorized as of May 19, 1997: the M/V MOSLAVINA, M/V ZETA, M/V LOVCEN, M/V DURMITOR, and M/V BAR (a.k.a. M/V INVIKEN). (b) All transactions by U.S. persons to seek and obtain judicial warrants of maritime arrest against the blocked vessels referenced in paragraph (a) of this section are authorized, but service of a warrant of maritime arrest on a blocked vessel referenced in paragraph (a) of this section may be effected not before 10:00 a.m. local time in the location of the vessel, May 8, 1997. (c) Nothing in this section authorizes a debit to an account blocked prior to December 27, 1995, unless such debit is independently authorized by or pursuant to this part. (d) All transactions with respect to blocked accounts held at Whitney National Bank, New Orleans, Louisiana, containing the proceeds of the sales of the M/V KAPETAN MARTINOVIC and the M/V BOR are authorized as of December 7, 1998. All transactions by U.S. persons to seek and obtain judicial writs of attachment against the blocked accounts as substitute property for these vessels are authorized as of 10:00 a.m. Eastern Standard Time, November 27, 1998. [62 FR 19673, Apr. 23, 1997, as amended at 63 FR 59884, Nov. 6, 1998] (a)(1) Except for such property and interests in property described in paragraph (a)(2) of this section, as of February 25, 2003, all transactions that otherwise would be prohibited by this part involving property or interests in property blocked pursuant to Executive Order 12808 of May 30, 1992, Executive Order 12810 of June 5, 1992, Executive Order 12846 of April 25, 1993, or Executive Order 12934 of October 25, 1994, that has remained blocked pursuant to Presidential Determination No. 96–7 of December 27, 1995, are authorized. (2) The authorization in paragraph (a)(1) does not apply to: (i) Property or interests in property of diplomatic and/or consular missions of the former Socialist Federal Republic of Yugoslavia, (ii) Property or interests in property blocked pursuant to this part of those persons presently subject to sanctions under either the Federal Republic of Yugoslavia (Serbia & Montenegro) Milosevic Regulations set forth at 31 CFR part 587 or the Western Balkans Transactions Regulations set forth at 31 CFR part 588, or who are otherwise subject to sanctions under this chapter, or (iii) Property or interests in property of the National Bank of Yugoslavia blocked pursuant to this part. (b) As of December 27, 2002, any person or government is authorized to seek an attachment, judgment, decree, lien, or other judicial or legal process against or with respect to any property or interests in property subject to the unblocking authorization set forth in paragraph (a) of this section. This section does not authorize any execution against, final settlement with respect to, garnishment of, or other action effecting the transfer of any property or interests in property subject to the unblocking authorization set forth in paragraph (a) of this section prior to February 25, 2003. Note to paragraph [67 FR 78974, Dec. 27, 2002] For provisions relating to records and reports, see subpart C of part 501 of this chapter. [62 FR 45110, Aug. 25, 1997] (a) Attention is directed to section 206 of the International Emergency Economic Powers Act (the “Act”) (50 U.S.C. 1705), which is applicable to violations of the provisions of any license, ruling, regulation, order, direction or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under the Act. Section 206 of the Act, as adjusted by the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101–410, as amended, 28 U.S.C. 2461 note), provides that: (1) A civil penalty of not to exceed $11,000 per violation may be imposed on any person who violates any license, order, or regulation issued under the Act; (2) Whoever willfully violates any license, order, or regulation issued under the Act shall, upon conviction be fined not more than $50,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment or both. (b) The criminal penalties provided in the Act are subject to increase pursuant to 18 U.S.C. 3571. (c) Attention is directed to the United Nations Participation Act (22 U.S.C. 287c(b)), which provides that any person who willfully violates or evades or attempts to violate or evade any order, rule, or regulation issued by the President pursuant to the authority granted in this section shall, upon conviction, be fined not more than $10,000 or, if a natural person, be imprisoned for not more than 10 years, or both; and the officer, director or agent of any corporation who knowingly participates in such violation or evasion shall be punished by a similar fine, imprisonment or both, and any property, funds, securities, papers, or other articles or documents, or any vessel, together with tackle, apparel, furniture, and equipment, or vehicle, or aircraft, concerned in such violation shall be forfeited to the United States. The criminal penalties provided in the United Nations Participation Act are subject to increase pursuant to 18 U.S.C. 3571. (d) Attention is also directed to 18 U.S.C. 1001, which provides that whoever, in any matter within the jurisdiction of any department or agency of the United States, knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statement or representation or makes or uses any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined under title 18, United States Code, or imprisoned not more than five years, or both. (e) Violations of this part may also be subject to relevant provisions of the Customs laws and other applicable laws. [58 FR 13201, Mar. 10, 1993, as amended at 61 FR 54940, Oct. 23, 1996; 62 FR 45110, Aug. 25, 1997] (a) When required. If the Director of the Office of Foreign Assets Control has reasonable cause to believe that there has occurred a violation of any provision of this part or a violation of the provisions of any license, ruling, regulation, order, direction or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under the International Emergency Economic Powers Act, and the Director determines that further proceedings are warranted, he shall issue to the person concerned a notice of his intent to impose a monetary penalty. The prepenalty notice shall be issued whether or not another agency has taken any action with respect to this matter. (b) Contents—(1) Facts of violation. The prepenalty notice shall describe the violation, specify the laws and regulations allegedly violated, and state the amount of the proposed monetary penalty. (2) Right to make presentations. The prepenalty notice also shall inform the person of his right to make a written presentation within 30 days of mailing of the notice as to why a monetary penalty should not be imposed, or, if imposed, why it should be in a lesser amount than proposed. (a) Time within which to respond. The named person shall have 30 days from the date of mailing of the prepenalty notice to make a written presentation to the Director. (b) Form and contents of written presentation. The written presentation need not be in any particular form, but shall contain information sufficient to indicate that it is in response to the prepenalty notice. It should contain responses to the allegations in the prepenalty notice and set forth the reasons why the person believes the penalty should not be imposed or, if imposed, why it should be in a lesser amount than proposed. (a) No violation. If, after considering any presentations made in response to the prepenalty notice and any relevant facts, the Director determines that there was no violation by the person named in the prepenalty notice, he promptly shall notify the person in writing of that determination and that no monetary penalty will be imposed. (b) Violation. If, after considering any presentations made in response to the prepenalty notice, the Director determines that there was a violation by the person named in the prepenalty notice, he promptly shall issue a written notice of the imposition of the monetary penalty to that person. In the event that the person named does not pay the penalty imposed pursuant to this subpart or make payment arrangements acceptable to the Director within 30 days of the mailing of the written notice of the imposition of the penalty, the matter shall be referred for administrative collection measures or to the United States Department of Justice for appropriate action to recover the penalty in a civil suit in a Federal district court. For license application procedures and procedures relating to amendments, modifications, or revocations of licenses; administrative decisions; rulemaking; and requests for documents pursuant to the Freedom of Information and Privacy Acts (5 U.S.C. 552 and 552a), see part 501, subpart E, of this chapter. [62 FR 45110, Aug. 25, 1997, as amended at 68 FR 53659, Sept. 11, 2003] Any action which the Secretary of the Treasury is authorized to take pursuant to Executive Orders 12808, 12810, 12831, and any further Executive orders relating to the national emergency declared in Executive Order 12808 may be taken by the Director, Office of Foreign Assets Control. [58 FR 13201, Mar. 10, 1993. Redesignated at 62 FR 45110, Aug. 25, 1997] For approval by the Office of Management and Budget (“OMB”) under the Paperwork Reduction Act of information collections relating to recordkeeping and reporting requirements, to licensing procedures (including those pursuant to statements of licensing policy), and to other procedures, see §501.901 of this chapter. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by OMB. [62 FR 45110, Aug. 25, 1997]
Title 31: Money and Finance: Treasury
PART 585—FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) AND BOSNIAN SERB-CONTROLLED AREAS OF THE REPUBLIC OF BOSNIA AND HERZEGOVINA SANCTIONS REGULATIONS
Section Contents
§ 585.101 Relation of this part to other laws and regulations.
§ 585.201 Prohibited transactions involving blocked property; transactions with respect to securities.
§ 585.202 Effect of transfers violating the provisions of this part.
§ 585.203 Holding of certain types of blocked property in interest-bearing accounts.
§ 585.204 Prohibited importation of goods or services from the FRY (S&M).
§ 585.205 Prohibited exportation and reexportation of goods, technology, or services to the FRY (S&M).
§ 585.206 Prohibited dealing in property.
§ 585.207 Prohibited transportation-related transactions involving the FRY (S&M).
§ 585.208 Prohibited overflights, takeoffs and landings of aircraft
§ 585.209 Prohibited performance of contracts.
§ 585.210 Prohibited transfer of funds to or for the benefit of the Government of the FRY (S&M) or any person in the FRY (S&M).
§ 585.211 Prohibited transactions related to participation in sporting events.
§ 585.212 Prohibited transactions related to scientific and technical cooperation, cultural exchanges, and other official visits.
§ 585.213 Exemption of activities related to certain international organizations.
§ 585.214 Evasions; attempts; conspiracies.
§ 585.215 Conveyances and cargo suspected of being in violation of United Nations sanctions; detention; blocking.
§ 585.216 Expenses of maintaining blocked property; liquidation into blocked account.
§ 585.217 Entry into the territorial waters of the FRY (S&M) or the riverine ports of the Republic of Bosnia and Herzegovina prohibited.
§ 585.218 Trade in United Nations Protected Areas of Croatia and those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces.
§ 585.301 Effective date.
§ 585.302 Blocked account; blocked property.
§ 585.303 Interest.
§ 585.304 Property; property interest.
§ 585.305 Transfer.
§ 585.306 License.
§ 585.307 General license.
§ 585.308 Specific license.
§ 585.309 Person.
§ 585.310 Entity.
§ 585.311 Government of the FRY (S&M).
§ 585.312 Government of the Socialist Federal Republic of Yugoslavia.
§ 585.313 Federal Republic of Yugoslavia (Serbia and Montenegro); FRY (S&M).
§ 585.314 Goods and services originating in the FRY (S&M).
§ 585.315 Person in the FRY (S&M).
§ 585.316 United States.
§ 585.317 United States person; U.S. person.
§ 585.318 U.S. financial institution.
§ 585.319 UNSC Resolution 757.
§ 585.401 Reference to amended sections.
§ 585.402 Effect of amendment.
§ 585.403 Termination and acquisition of an interest in blocked property.
§ 585.404 Payments from blocked accounts to U.S. exporters and for other obligations prohibited.
§ 585.405 Acquisition of instruments including bankers acceptances.
§ 585.406 Extensions of credits or loans.
§ 585.407 Payments in connection with certain authorized transactions.
§ 585.408 Offshore transactions.
§ 585.409 Transshipments through the United States prohibited.
§ 585.410 Imports from third countries of goods originating in the FRY (S&M); transshipments.
§ 585.411 Exports to third countries; transshipments.
§ 585.412 Release of goods originating in the FRY (S&M) from a bonded warehouse or foreign trade zone.
§ 585.413 Imports of goods originating in the FRY (S&M), and purchases of goods from the FRY (S&M).
§ 585.414 Services performed in the Federal Republic of Yugoslavia (Serbia and Montenegro) or by the Government of the FRY (S&M).
§ 585.415 Setoffs prohibited.
§ 585.416 Exportation of services; performance of service contracts; legal services.
§ 585.417 Transactions incidental to a licensed transaction.
§ 585.418 Vessels of the Federal Republic of Yugoslavia (Serbia and Montenegro).
§ 585.419 Effect of E.O. 12846 on outstanding licenses and authorizations.
§ 585.420 Prohibited transfer of funds involving those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces.
§ 585.500 Licensing procedures.
§ 585.501 Effect of license or authorization.
§ 585.502 Exclusion from licenses and authorizations.
§ 585.503 Payments and transfers to blocked accounts in U.S. financial institutions.
§ 585.504 Investment and reinvestment of certain funds.
§ 585.505 Completion of certain transactions related to bankers acceptances authorized.
§ 585.506 Payments of obligations to persons within the United States authorized.
§ 585.507 Certain exportations to the FRY (S&M) authorized.
§ 585.508 Importation of household and personal effects from the FRY (S&M) authorized.
§ 585.509 Trading in certain pre-sanctions obligations of debtors in the Republics of Slovenia, Croatia, Bosnia-Hercegovina, and Macedonia authorized.
§ 585.510 Payments and transfers authorized for goods and services exported to the FRY (S&M) prior to the effective date.
§ 585.511 Extensions or renewals of letters of credit authorized.
§ 585.512 Transactions relating to travel to or within the FRY (S&M).
§ 585.513 Transactions related to telecommunications authorized.
§ 585.514 Transactions related to mail authorized.
§ 585.515 Certain transactions related to patents, trademarks and copyrights authorized.
§ 585.516 Procedures established for export transactions initiated prior to the effective date.
§ 585.517 Exportation of certain legal services to the Government of, or persons in, the FRY (S&M).
§ 585.518 Certain standby letters of credit and performance bonds.
§ 585.519 Certain imports for diplomatic or official personnel authorized.
§ 585.520 Entries in certain accounts for normal service charges authorized.
§ 585.521 Donations of food to relieve human suffering authorized.
§ 585.522 Donations of medical supplies authorized.
§ 585.523 Certain transactions for the benefit of individuals in the FRY (S&M) authorized.
§ 585.524 Humanitarian aid and trade in United Nations Protected Areas of Croatia and those areas of the Republic of Bosnia and Herzegovina controlled by Bosnian Serb forces.
§ 585.525 Authorization of certain new transactions with respect to the FRY (S&M).
§ 585.526 Authorization for release of certain blocked transfers by U.S. financial institutions.
§ 585.527 Authorization of certain new transactions with respect to the Bosnian Serbs.
§ 585.528 Unblocking of certain vessels and accounts.
§ 585.529 Unblocking of previously blocked property.
§ 585.601 Records and reports.
§ 585.701 Penalties.
§ 585.702 Prepenalty notice.
§ 585.703 Presentation responding to prepenalty notice.
§ 585.704 Penalty notice.
§ 585.705 Referral to United States Department of Justice.
§ 585.801 Procedures.
§ 585.802 Delegation by the Secretary of the Treasury.
§ 585.901 Paperwork Reduction Act notice.
Subpart A—Relation of This Part to Other Laws and Regulations
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§ 585.101 Relation of this part to other laws and regulations.
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Subpart B—Prohibitions
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§ 585.201 Prohibited transactions involving blocked property; transactions with respect to securities.
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§ 585.202 Effect of transfers violating the provisions of this part.
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§ 585.203 Holding of certain types of blocked property in interest-bearing accounts.
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§ 585.204 Prohibited importation of goods or services from the FRY (S&M).
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§ 585.205 Prohibited exportation and reexportation of goods, technology, or services to the FRY (S&M).
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§ 585.206 Prohibited dealing in property.
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§ 585.207 Prohibited transportation-related transactions involving the FRY (S&M).
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§ 585.208 Prohibited overflights, takeoffs and landings of aircraft
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§ 585.209 Prohibited performance of contracts.
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§ 585.210 Prohibited transfer of funds to or for the benefit of the Government of the FRY (S&M) or any person in the FRY (S&M).
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§ 585.211 Prohibited transactions related to participation in sporting events.
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§ 585.212 Prohibited transactions related to scientific and technical cooperation, cultural exchanges, and other official visits.
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§ 585.213 Exemption of activities related to certain international organizations.
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§ 585.214 Evasions; attempts; conspiracies.
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§ 585.215 Conveyances and cargo suspected of being in violation of United Nations sanctions; detention; blocking.
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§ 585.216 Expenses of maintaining blocked property; liquidation into blocked account.
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§ 585.217 Entry into the territorial waters of the FRY (S&M) or the riverine ports of the Republic of Bosnia and Herzegovina prohibited.
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§ 585.218 Trade in United Nations Protected Areas of Croatia and those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces.
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Subpart C—General Definitions
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§ 585.301 Effective date.
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§ 585.302 Blocked account; blocked property.
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§ 585.303 Interest.
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§ 585.304 Property; property interest.
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§ 585.305 Transfer.
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§ 585.306 License.
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§ 585.307 General license.
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§ 585.308 Specific license.
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§ 585.309 Person.
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§ 585.310 Entity.
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§ 585.311 Government of the FRY (S&M).
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§ 585.312 Government of the Socialist Federal Republic of Yugoslavia.
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§ 585.313 Federal Republic of Yugoslavia (Serbia and Montenegro); FRY (S&M).
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§ 585.314 Goods and services originating in the FRY (S&M).
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§ 585.315 Person in the FRY (S&M).
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§ 585.316 United States.
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§ 585.317 United States person; U.S. person.
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§ 585.318 U.S. financial institution.
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§ 585.319 UNSC Resolution 757.
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Subpart D—Interpretations
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§ 585.401 Reference to amended sections.
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§ 585.402 Effect of amendment.
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§ 585.403 Termination and acquisition of an interest in blocked property.
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§ 585.404 Payments from blocked accounts to U.S. exporters and for other obligations prohibited.
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§ 585.405 Acquisition of instruments including bankers acceptances.
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§ 585.406 Extensions of credits or loans.
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§ 585.407 Payments in connection with certain authorized transactions.
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§ 585.408 Offshore transactions.
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§ 585.409 Transshipments through the United States prohibited.
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§ 585.410 Imports from third countries of goods originating in the FRY (S&M); transshipments.
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§ 585.411 Exports to third countries; transshipments.
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§ 585.412 Release of goods originating in the FRY (S&M) from a bonded warehouse or foreign trade zone.
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§ 585.413 Imports of goods originating in the FRY (S&M), and purchases of goods from the FRY (S&M).
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§ 585.414 Services performed in the Federal Republic of Yugoslavia (Serbia and Montenegro) or by the Government of the FRY (S&M).
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§ 585.415 Setoffs prohibited.
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§ 585.416 Exportation of services; performance of service contracts; legal services.
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§ 585.417 Transactions incidental to a licensed transaction.
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§ 585.418 Vessels of the Federal Republic of Yugoslavia (Serbia and Montenegro).
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§ 585.419 Effect of E.O. 12846 on outstanding licenses and authorizations.
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§ 585.420 Prohibited transfer of funds involving those areas of the Republic of Bosnia and Herzegovina under the control of Bosnian Serb forces.
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Subpart E—Licenses, Authorizations, and Statements of Licensing Policy
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§ 585.500 Licensing procedures.
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§ 585.501 Effect of license or authorization.
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§ 585.502 Exclusion from licenses and authorizations.
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§ 585.503 Payments and transfers to blocked accounts in U.S. financial institutions.
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§ 585.504 Investment and reinvestment of certain funds.
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§ 585.505 Completion of certain transactions related to bankers acceptances authorized.
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§ 585.506 Payments of obligations to persons within the United States authorized.
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§ 585.507 Certain exportations to the FRY (S&M) authorized.
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§ 585.508 Importation of household and personal effects from the FRY (S&M) authorized.
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§ 585.509 Trading in certain pre-sanctions obligations of debtors in the Republics of Slovenia, Croatia, Bosnia-Hercegovina, and Macedonia authorized.
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§ 585.510 Payments and transfers authorized for goods and services exported to the FRY (S&M) prior to the effective date.
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§ 585.511 Extensions or renewals of letters of credit authorized.
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§ 585.512 Transactions relating to travel to or within the FRY (S&M).
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§ 585.513 Transactions related to telecommunications authorized.
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§ 585.514 Transactions related to mail authorized.
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§ 585.515 Certain transactions related to patents, trademarks and copyrights authorized.
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§ 585.516 Procedures established for export transactions initiated prior to the effective date.
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§ 585.517 Exportation of certain legal services to the Government of, or persons in, the FRY (S&M).
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§ 585.518 Certain standby letters of credit and performance bonds.
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§ 585.519 Certain imports for diplomatic or official personnel authorized.
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§ 585.520 Entries in certain accounts for normal service charges authorized.
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§ 585.521 Donations of food to relieve human suffering authorized.
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§ 585.522 Donations of medical supplies authorized.
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§ 585.523 Certain transactions for the benefit of individuals in the FRY (S&M) authorized.
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§ 585.524 Humanitarian aid and trade in United Nations Protected Areas of Croatia and those areas of the Republic of Bosnia and Herzegovina controlled by Bosnian Serb forces.
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§ 585.525 Authorization of certain new transactions with respect to the FRY (S&M).
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§ 585.526 Authorization for release of certain blocked transfers by U.S. financial institutions.
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§ 585.527 Authorization of certain new transactions with respect to the Bosnian Serbs.
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§ 585.528 Unblocking of certain vessels and accounts.
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§ 585.529 Unblocking of previously blocked property.
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Subpart F—Reports
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§ 585.601 Records and reports.
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Subpart G—Penalties
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§ 585.701 Penalties.
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§ 585.702 Prepenalty notice.
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§ 585.703 Presentation responding to prepenalty notice.
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§ 585.704 Penalty notice.
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§ 585.705 Referral to United States Department of Justice.
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Subpart H—Procedures
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§ 585.801 Procedures.
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§ 585.802 Delegation by the Secretary of the Treasury.
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Subpart I—Paperwork Reduction Act
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§ 585.901 Paperwork Reduction Act notice.
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