Frequently Asked Questions

857. Do the prohibitions in Executive Order (E.O.) 13959, as amended, apply to purchases or sales of publicly traded securities of subsidiaries of entities listed on the Non-SDN Chinese Military-Industrial Complex Companies List (the “NS-CMIC List”)

857 … The prohibitions in E.O. 13959, as amended, apply to a subsidiary of a Chinese Military-Industrial Complex Company (CMIC) listed on the NS-CMIC List only if such subsidiary itself is publicly listed on the NS-CMIC List by Treasury pursuant to E.O. 13959, as amended, or identified in the Annex… Read more

859. What are “publicly traded securities” for purposes of Executive Order (E.O.) 13959, as amended?

859 … For purposes of E.O. 13959, as amended, the term “publicly traded securities” includes any “security,” as defined in section 3(a)(10) of the Securities Exchange Act of 1934, Public Law 73–291 (as codified as amended at 15 U.S.C. 78c(a)(10)), denominated in any currency that trades on a… Read more

860. For purposes of Executive Order (E.O.) 13959, as amended, what financial instruments are covered by the provision stating the prohibitions apply to “any publicly traded securities that are derivative of such securities or are designed to provide investment exposure to such” publicly traded securities?

860 … Examples of financial instruments covered by this provision include, but are not limited to, derivatives (e.g., futures, options, swaps), warrants, American depositary receipts (ADRs), global depositary receipts (GDRs), exchange-traded funds (ETFs), index funds, and mutual funds, to the… Read more

861. Does Executive Order (E.O.) 13959, as amended, prohibit U.S. persons from investing in U.S. or foreign funds, such as exchange-traded funds (ETFs) or other mutual funds, that hold publicly traded securities of a Chinese Military-Industrial Complex Company (CMIC)?

861 … Yes. Under E.O. 13959, as amended, any purchase or sale of publicly traded securities, or any publicly traded securities that are derivative of such securities or are designed to provide investment exposure to such securities, of any CMIC listed on the NS-CMIC List is prohibited, regardless… Read more

863. Can U.S. persons custody, offer for sale, serve as a transfer agent, and trade in covered securities?

863 … For purposes of E.O. 13959, as amended, activity by U.S. persons related to the following services are considered permissible, to the extent that such support services are not provided to U.S. persons in connection with prohibited purchases or sales: clearing, execution, settlement, custody,… Read more

866. What prohibitions apply to the Central Bank of Syria (CBoS)?

866 … The Central Bank of Syria (CBoS) is blocked as part of the Government of Syria, as defined in E.O. 13582 of August 17, 2011 and the Syrian Sanctions Regulations (SySR), 31 C.F.R. Part 542 . On December 22, 2020, OFAC identified the CBoS on the Specially Designated Nationals and Blocked… Read more

867. Can U.S. and non-U.S. persons provide humanitarian assistance to Syria following the identification of the Central Bank of Syria (CBoS) on the Specially Designated Nationals and Blocked Persons List (SDN List)?

867 … Yes. The identification of the CBoS on the SDN List does not trigger new prohibitions; existing general and specific licenses under the Syrian Sanctions Regulations (SySR), 31 C.F.R. Part 542, continue to apply as they did previously. U.S. persons may continue engaging with the CBoS in… Read more

868. I am a non-U.S. person that engages in humanitarian-related transactions or activity with Polymedics LLC and Letia Company. Do I now face exposure to sanctions for engaging in humanitarian-related transactions or activity with these companies?

868 … As described in FAQ 867 , non-U.S. persons would not risk exposure to sanctions for engaging in humanitarian-related transactions or activity with Polymedics LLC and Letia Company that are exempt from regulation or authorized for U.S. persons by a general license in the Syrian Sanctions… Read more

869. If a person is subject to non-blocking menu-based sanctions described in section 235(a) of the Countering America’s Adversaries Through Sanctions Act (CAATSA), do the same non-blocking sanctions apply to entities owned 50 percent or more by the listed person?

869 … No. If a person is listed on OFAC’s Non-SDN Menu-Based Sanctions List (NS-MBS List) as subject to only a combination of the sanctions described in section 235(a)(1-8) and (10-11) of CAATSA , as implemented by Executive Order (E.O.) 13849 , these non-blocking sanctions do not apply to an… Read more

870. On December 14, 2020, OFAC added a person to the Non-SDN Menu-Based Sanctions List (NS-MBS List) and indicated that the person was subject to the loan and credit-related sanction described in section 235(a)(3) of the Countering America’s Adversaries Through Sanctions Act (CAATSA). What does this sanction prohibit?

870 … With respect to a person on the NS-MBS List subject to section 235(a)(3) of CAATSA , as implemented by section 1(a)(i) of Executive Order (E.O.) 13849 , U.S. financial institutions are prohibited from making loans or providing credits to the identified person totaling more than $10,000,000 in… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence