OFAC Defines "Financial, Material, or Technological Support" for Global Terrorism Sanctions Regulations
The Office of Foreign Assets Control has issued a final rule, effective November 23, 2009, amending the Global Terrorism Sanctions Regulations (31 CFR Part 594) to add the definition of the term "financial, material, or technological support," as used in these regulations.
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U.S. Property/Interests Blocked if Person Provides Financial Support, Etc. for Acts of Terrorism
- CFR 594.201 blocks the U.S. property and interests in property of persons determined by the Secretary of the Treasury1 to assist in, sponsor, or provide financial, material, or technological support for, or financial or other services to or in support of (i) acts of terrorism that threaten the security of U.S. nationals or the national security, foreign policy, or economy of the U.S.; or (ii) any person whose property or interests in property are blocked pursuant to 31 CFR 594.201(a); etc.
GTSR Amended to Define "Financial, Material, or Technological Support"
OFAC is adding new 31 CFR 594.317 to define the term "financial, material, or technological support" to mean:
"any property, tangible or intangible, including but not limited to currency, financial instruments, securities, or any other transmission of value; weapons or related materiel; chemical or biological agents; explosives; false documentation or identification; communications equipment; computers; electronic or other devices or equipment; technologies; lodging; safe houses; facilities; vehicles or other means of transportation; or goods. "
(technologies as used in this definition means specific information necessary for the development, production, or use of a product, including related technical data such as blueprints, plans, diagrams, models, formulae, tables, engineering designs and specifications, manuals, or other recorded instructions.)
OFAC notes that this definition may include concepts that overlap with existing provisions in the GTSR, such as interpretive section 594.406 on the "provision of services." However, in light of the threat posed by acts of terrorism to the national security, foreign policy, and economy of the U.S., OFAC has determined that the benefit of greater specificity in the new definition outweighs any concerns with regard to redundancy.
1in consultation with the Secretary of State, the Secretary of Homeland Security, and the Attorney General
OFAC contact - Assistant Director for Policy (202) 622-4855
OFAC final rule (FR Pub 11/23/09) available at http://edocket.access.gpo.gov/2009/pdf/E9-28066.pdf