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OFAC issued sanctions regulations to implement President Biden's Executive Order 14046 “Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights Crisis in Ethiopia.”
Further, OFAC stated it intends to issue more comprehensive regulations in the future, including "additional interpretive guidance and definitions, general licenses, and other regulatory provisions." The Ethiopia Sanctions Regulations will take effect upon publication in the Federal Register on February 9, 2022.
Separately, OFAC amended its regulations to implement the Federal Civil Monetary Penalties Inflation Adjustment Act of 1990 for the year 2022, which adjusts for inflation, the maximum amount of civil monetary penalties. This amendment will take effect upon publication in the Federal Register on February 9, 2022.
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- 87 FR 7374 - Ethiopia Sanctions Regulations
- 87 FR 7369 - Inflation Adjustment of Civil Monetary Penalties
- EO 14046 - Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights Crisis in Ethiopia
- OFAC Effective Date: Ethiopia Sanctions Regulations (2022-02-09)
- Subpart A-Relation of This Part to Other Laws and Regulations
- Subpart B-Prohibitions
- Subpart C-General Definitions
- Subpart D-Interpretations
- Subpart E-Licenses, Authorizations, and Statements of Licensing Policy
- Subpart F-Reports
- Subpart G-Penalties and Findings of Violation
- Subpart H-Procedures
- Subpart I-Paperwork Reduction Act
- OFAC Rules PART 550-ETHIOPIA SANCTIONS REGULATIONS
- OFAC Rule 550.101: Relation of this part to other laws and regulations.
- OFAC Rule 550.201: Prohibited transactions.
- OFAC Rule 550.202: Effect of transfers violating the provisions of this part.
- OFAC Rule 550.203: Holding of funds in interest-bearing accounts; investment and reinvestment.
- OFAC Rule 550.204: Expenses of maintaining blocked tangible property; liquidation of blocked property.
- OFAC Rule 550.205: Exempt transactions.
- OFAC Rule 550.300: Applicability of definitions.
- OFAC Rule 550.301: Blocked account; blocked property.
- OFAC Rule 550.302: Effective Date.
- OFAC Rule 550.303: Entity.
- OFAC Rule 550.304: Financial, material, or technological support.
- OFAC Rule 550.305: [Reserved]
- OFAC Rule 550.306: Government of Eritrea.
- OFAC Rule 550.307: Government of Ethiopia.
- OFAC Rule 550.308: Interest.
- OFAC Rule 550.309: Licenses; general and specific.
- OFAC Rule 550.310: OFAC.
- OFAC Rule 550.311: Person.
- OFAC Rule 550.312: Property; property interest.
- OFAC Rule 550.313: Sanctioned person.
- OFAC Rule 550.314: Transfer.
- OFAC Rule 550.315: United States.
- OFAC Rule 550.316: United States person; U.S. person.
- OFAC Rule 550.317: U.S. financial institution.
- OFAC Rule 550.401: [Reserved]
- OFAC Rule 550.402: Effect of amendment.
- OFAC Rule 550.403:Termination and acquisition of an interest in blocked property.
- OFAC Rule 550.404: Transactions ordinarily incident to a licensed transaction.
- OFAC Rule 550.405: Setoffs prohibited.
- OFAC Rule 550.406: Status of entities owned by one or more persons whose property and interests in property are blocked.
- OFAC Rule 550.501: General and specific licensing procedures.
- OFAC Rule 550.502: [Reserved]
- OFAC Rule 550.503: Exclusion from licenses.
- OFAC Rule 550.504: Payments and transfers to blocked accounts in U.S. financial institutions.
- OFAC Rule 550.505: Entries in certain accounts for normal service charges.
- OFAC Rule 550.506: Provision of certain legal services.
- OFAC Rule 550.507: Payments for legal services from funds originating outside the United States.
- OFAC Rule 550.508: Emergency medical services.
- OFAC Rule 550.509: Official business of the United States Government.
- OFAC Rule 550.510: Official business of certain international organizations and entities.
- OFAC Rule 550.511: Certain transactions in support of nongovernmental organizations' activities.
- OFAC Rule 550.512: Transactions related to the exportation or reexportation of agricultural commodities, medicine, medical devices, replacement parts and components, or software updates.
- OFAC Rule 550.601: Records and reports.
- OFAC Rule 550.701: Penalties and Findings of Violation.
- OFAC Rule 550.801: Procedures.
- OFAC Rule 550.802: Delegation of certain authorities of the Secretary of the Treasury.
- OFAC Rule 550.901: Paperwork Reduction Act notice.
- Office of Foreign Asset Control (OFAC) Rules and Sanctions Materials
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