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Federal Register / Vol. 86, No. 103 / Tuesday, June 1, 2021 / Rules and Regulations
Subpart BProhibitions 525.201 Prohibited transactions.
525.202 Effect of transfers violating the provisions of this part.
525.203 Holding of funds in interestbearing accounts; investment and reinvestment.
525.204 Expenses of maintaining blocked tangible property; liquidation of blocked property.
525.205 Exempt transactions.
Subpart CGeneral Definitions 525.300 Applicability of definitions.
525.301 Blocked account; blocked property.
525.302 Effective date.
525.303 Entity.
525.304 Financial, material, or technological support.
525.305 Reserved 525.306 Interest.
525.307 Licenses; general and specific.
525.308 OFAC.
525.309 Person.
525.310 Property; property interest.
525.311 Transfer.
525.312 United States.
525.313 United States person; U.S. person.
525.314 U.S. financial institution.
Subpart DInterpretations 525.401 Reserved 525.402 Effect of amendment.
525.403 Termination and acquisition of an interest in blocked property.
525.404 Transactions ordinarily incident to a licensed transaction.
525.405 Setoffs prohibited.
525.406 Entities owned by one or more persons whose property and interests in property are blocked.
Subpart ELicenses, Authorizations, and Statements of Licensing Policy 525.501 General and specific licensing procedures.
525.502 Reserved 525.503 Exclusion from licenses.
525.504 Payments and transfers to blocked accounts in U.S. financial institutions.
525.505 Entries in certain accounts for normal service charges.
525.506 Provision of certain legal services.
525.507 Payments for legal services from funds originating outside the United States.
525.508 Emergency medical services.
525.509 Official business of the United States Government.
Subpart FReports 525.601 Records and reports.

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Subpart GPenalties and Findings of Violation 525.701 Penalties and Findings of Violation.
Subpart HProcedures 525.801 Procedures.
525.802 Delegation of certain authorities of the Secretary of the Treasury.
Subpart IPaperwork Reduction Act 525.901 Paperwork Reduction Act notice.
Appendix A to Part 525Executive Order 14014 of February 10, 2021

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Authority: 3 U.S.C. 301; 31 U.S.C. 321b;
50 U.S.C. 16011651, 17011706; Pub. L.
101410, 104 Stat. 890, as amended 28
U.S.C. 2461 note; E.O. 14014, 86 FR 9429, February 12, 2021.

Subpart ARelation of This Part to Other Laws and Regulations 525.101 Relation of this part to other laws and regulations.

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. 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. Differing foreign policy and national security circumstances 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. 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.
Note 1 to 525.101. This part has been published in abbreviated form for the purpose of providing immediate guidance to the public. OFAC intends to supplement this part with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, general licenses, and other regulatory provisions.

Subpart BProhibitions 525.201

Prohibited transactions.

All transactions prohibited pursuant to Executive Order E.O. 14014 of February 10, 2021, or any further Executive orders issued pursuant to the national emergency declared in E.O.
14014, are prohibited pursuant to this part.
Note 1 to 525.201. The names of persons designated or identified as blocked pursuant to E.O. 14014, or listed in, or designated or identified as blocked pursuant to, any further Executive orders issued pursuant to the national emergency declared therein, whose property and interests in property therefore are blocked pursuant to this section, are published in the Federal Register and incorporated into OFACs Specially Designated Nationals and Blocked Persons List SDN List using the following identifier formulation: BURMAEOEO number
PO 00000

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pursuant to which the persons property and interests in property are blocked. The SDN
List is accessible through the following page on OFACs website: www.treasury.gov/sdn.
Additional information pertaining to the SDN
List can be found in appendix A to this chapter. See 525.406 concerning entities that may not be listed on the SDN List but whose property and interests in property are nevertheless blocked pursuant to this section.
Note 2 to 525.201. The International Emergency Economic Powers Act 50 U.S.C.
17011706, in Section 203 50 U.S.C. 1702, authorizes the blocking of property and interests in property of a person during the pendency of an investigation. The names of persons whose property and interests in property are blocked pending investigation pursuant to this section also are published in the Federal Register and incorporated into the SDN List using the following identifier formulation: BPIBURMAEOEO number pursuant to which the persons property and interests in property are blocked pending investigation.
Note 3 to 525.201. Sections 501.806 and 501.807 of this chapter describe the procedures to be followed by persons seeking, respectively, the unblocking of funds that they believe were blocked due to mistaken identity, or administrative reconsideration of their status as persons whose property and interests in property are blocked pursuant to this section.
525.202 Effect of transfers violating the provisions of this part.

a Any transfer after the effective date that is in violation of any provision of this part or of any regulation, order, directive, ruling, instruction, or license issued pursuant to this part, and that involves any property or interest in property blocked pursuant to 525.201, 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 interest in property.
b No transfer before the effective date shall be the basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or any interest in, any property or interest in property blocked pursuant to 525.201, unless the person who holds or maintains such property, prior to that date, had written notice of the transfer or by any written evidence had recognized such transfer.
c Unless otherwise provided, a license or other authorization issued by OFAC before, during, or after a transfer shall validate such transfer or make it enforceable to the same extent that it would be valid or enforceable but for the provisions of this part and any regulation, order, directive, ruling, instruction, or license issued pursuant to this part.

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