Statutes, codes, and regulations
Code of Federal Regulations
Title 31 - MONEY AND FINANCE: TREASURYSubtitle B - REGULATIONS RELATING TO MONEY AND FINANCEChapter V - OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURYPart 542 - SYRIAN SANCTIONS REGULATIONS
Subpart E - LICENSES, AUTHORIZATIONS, AND STATEMENTS OF LICENSING POLICY
Section 542.523 - Certain services to the National Coalition of Syrian Revolutionary and Opposition Forces authorized

31 C.F.R. § 542.523

Download
PDF
Current through October 31, 2024
Section 542.523 - Certain services to the National Coalition of Syrian Revolutionary and Opposition Forces authorized
(a) Except as provided in paragraphs (b) and (c) of this section, U.S. persons are authorized to export, reexport, sell, or supply, directly or indirectly, to the National Coalition of Syrian Revolutionary and Opposition Forces ("the Coalition") services otherwise prohibited by § 542.207 .

Note to paragraph (a): See§ 542.510 for a general license authorizing the exportation and reexportation of certain items and services to Syria.

(b) This section does not authorize:
(1) Any transaction with a person whose property and interests in property are blocked pursuant to § 542.201 ; or
(2) The exportation, reexportation, sale, or supply, directly or indirectly, of any services in support of the exportation or reexportation to Syria of any item listed on the United States Munitions List ( 22 CFR part 121 ).
(c) Any transfer of funds to or from the Coalition under this section must be conducted through the Coalition's U.S. office through an account of the Coalition at a U.S. financial institution specifically licensed for that purpose by OFAC.

Note to paragraph (c): For additional information on the bank account that is specifically licensed for receipt of funds transfers, please contact the U.S. office of the Coalition at 1101 Pennsylvania Avenue NW., Ste # 6620, Washington, DC 20004, ATTN: OFAC-authorized bank account, or by phone at (202) 800-1130.

31 C.F.R. §542.523

89 FR 48324 , 6/6/2024

Note 1 to § 542.523: Financial institutions transferring funds to or from the Coalition pursuant to this section may rely on the originator of a funds transfer with regard to compliance with paragraph (b), provided that the transferring institution does not know or have reason to know that the funds transfer is not in compliance with paragraph (b) of this section.

Note 2 to § 542.523: Consistent with sections § 542.101 and § 542.502 , this section does not authorize any transaction prohibited by any part of 31 CFR Chapter V other than § 542.207 . For example, this section does not authorize any transaction with a person whose property and interests in property are blocked pursuant to § 594.201 of this chapter, such as al-Nusrah.