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31 CFR §515.406

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Section 515.201 prohibits the presentation, acceptance or payment of:
  1. (a)Drafts or other orders for payment drawn under irrevocable letters of credit issued in favor or on behalf of any designated national;
  2. (b)Drafts or other orders for payment, in which any designated national has on or since the “effective date” had any interest, drawn under any irrevocable letter of credit; and
  3. (c)Documentary drafts in which any designated national has on or since the “effective date” had any interest.