OFAC Issues Final Rule for Belarus Blocked Property EO

(In E.O. 13405, the President determined that the actions and policies of certain members of the Government of Belarus and other persons to undermine Belarus democratic processes or institutions constitute an unusual and extraordinary threat to the national security and foreign policy of the U.S. and declared a national emergency to deal with that threat.)

Final Rule Adds New 31 CFR Part 548

The final rule adds a new 31 CFR Part 548 entitled, "Belarus Sanctions Regulations" to conform OFAC regulations to the purposes of EO 13405.

New 31 CFR 548.201 states, among other things, that all property and interests in property that are in the U.S., that hereafter come within the U.S., or that are or hereafter come within the possession or control of U.S. persons, including their overseas branches, of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in:

(1) Any person listed in the Annex to Executive Order 13405; and

(2) Any person determined by the Secretary of the Treasury, after consultation with the Secretary of State:

(i) To be responsible for, or to have participated in, actions or policies that undermine democratic processes or institutions in Belarus;

(ii) To be responsible for, or to have participated in, human rights abuses related to political repression in Belarus;

(iii) To be a senior-level official, a family member of such an official, or a person closely linked to such an official who is responsible for or has engaged in public corruption related to Belarus;

(iv) To have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services in support of, the activities described in paragraphs (i) through (iii) or any person whose property or interests in property are blocked pursuant to new 31 CFR 548.201(a); or

(v) To be owned or controlled by, or acting or purporting to act for or on behalf of, directly or indirectly, any person whose property or interests in property are blocked pursuant to new 31 CFR 548.201(a).

(See final rule for additional details, such as that the prohibitions outlined above include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any such person whose property and interests in property are blocked.)

(See ITT's Online Archives or 09/09/08 news, 08090920, for BP summary of OFAC authorizing transactions with 2 entities blocked under the Belarus EO.)

OFAC final rule (FR Pub 02/03/10) available at http://edocket.access.gpo.gov/2010/pdf/2010-2220.pdf