OFAC Amends and Reissues Somalia Sanctions Regulations
OFAC amended and reissued Somalia Sanctions Regulations in their entirety. The final rule incorporates Executive Orders 13536 ("Blocking Property of Certain Persons Contributing to the Conflict in Somalia") and 13620 ("Taking Additional Steps to Address the National Emergency With Respect to Somalia") and replaces the 2010 abbreviated form of the regulations with a more comprehensive set, including additional regulatory guidance and general licenses.
Primary Sources
Premium Content
Available only to Premium subscribers.
- OFAC Rules PART 551-SOMALIA SANCTIONS REGULATIONS
- OFAC Rule 551.101: Relation of this part to other laws and regulations.
- OFAC Rule 551.201: Prohibited transactions.
- OFAC Rule 551.202: Effect of transfers violating the provisions of this part.
- OFAC Rule 551.203: Holding of funds in interest-bearing accounts; investment and reinvestment.
- OFAC Rule 551.204: Expenses of maintaining blocked tangible property; liquidation of blocked property.
- OFAC Rule 551.205: Evasions; attempts; causing violations; conspiracies.
- OFAC Rule 551.206: Exempt transactions.
- OFAC Rule 551.207: Prohibited importation of charcoal from Somalia.
- OFAC Rule 551.300: Applicability of definitions.
- OFAC Rule 551.301: African Union Mission in Somalia; AMISOM
- OFAC Rule 551.302: Arms or any related materiel.
- OFAC Rule 551.303: Blocked account; blocked property.
- OFAC Rule 551.304: Charcoal.
- OFAC Rule 551.305: Effective date.
- OFAC Rule 551.306: Entity.
- OFAC Rule 551.307: Financial, material, logistical, or technical support.
- OFAC Rule 551.308: [Reserved]
- OFAC Rule 551.309: Interest.
- OFAC Rule 551.310: Licenses; general and specific.
- OFAC Rule 551.311: OFAC.
- OFAC Rule 551.312: Person.
- OFAC Rule 551.313: Property; property interest.
- OFAC Rule 551.314: Transfer.
- OFAC Rule 551.315: Transitional Federal Institutions.
- OFAC Rule 551.316: United States.
- OFAC Rule 551.317: United States person; U.S. person.
- OFAC Rule 551.318: U.S. financial institution.
- OFAC Rule 551.401: Reference to amended sections.
- OFAC Rule 551.402: Effect of amendment.
- OFAC Rule 551.403: Termination and acquisition of an interest in blocked property.
- OFAC Rule 551.404: Transactions ordinarily incident to a licensed transaction.
- OFAC Rule 551.405: Provision of services.
- OFAC Rule 551.406: Offshore transactions involving blocked property.
- OFAC Rule 551.407: Payments from blocked accounts to satisfy obligations prohibited.
- OFAC Rule 551.408: Charitable contributions.
- OFAC Rule 551.409: Credit extended and cards issued by financial institutions to a person whose property and interests in property are blocked.
- OFAC Rule 551.410: Setoffs prohibited.
- OFAC Rule 551.411: Entities owned by one or more persons whose property and interests in property are blocked.
- OFAC Rule 551.501: General and specific licensing procedures.
- OFAC Rule 551.502: Effect of license or other authorization.
- OFAC Rule 551.503: Exclusion from licenses.
- OFAC Rule 551.504: Payments and transfers to blocked accounts in U.S. financial institutions.
- OFAC Rule 551.505: Entries in certain accounts for normal service charges.
- OFAC Rule 551.506: Investment and reinvestment of certain funds.
- OFAC Rule 551.507: Provision of certain legal services.
- OFAC Rule 551.508: Payments for legal services from funds originating outside the United States.
- OFAC Rule 551.509: Emergency medical services.
- OFAC Rule 551.510: Official business of the United States Government.
- OFAC Rule 551.511: Official business of certain international organizations and entities.
- OFAC Rule 551.601: Records and reports.
- OFAC Rule 551.701: Penalties.
- OFAC Rule 551.702: Pre-Penalty Notice; settlement.
- OFAC Rule 551.703: Penalty imposition.
- OFAC Rule 551.704: Administrative collection; referral to United States Department of Justice.
- OFAC Rule 551.705: Findings of Violation.
- OFAC Rule 551.801: Procedures.
- OFAC Rule 551.802: Delegation of certain authorities of the Secretary of the Treasury.
- OFAC Rule 551.901: Paperwork Reduction Act notice.
- EO 13620 - Taking Additional Steps to Address the National Emergency With Respect to Somalia
- EO 13536 - Blocking Property of Certain Persons Contributing to the Conflict in Somalia
- 86 FR 22346 - Somalia Sanctions Regulations
Join Premium
US Regulatory Intelligence combines regulatory and enforcement news, analysis, and practical work tools on an easy-to-use digital platform.
Tags
Regulated Activities
Sanctions Compliance
Sub-Activity
Sanctions Based on Country
Body of Law
Sanctions
Jurisdiction
US - Federal
Impacted Foreign Jurisdiction
Somalia
Organization
Treasury / FinCEN / OFAC / CFIUS
Sub-Author
OFAC