31 CFR §550.301

The terms blocked account and blocked property mean any account or property subject to the prohibitions in § 550.201 held in the name of a person whose property and interests in property are blocked pursuant to § 550.201, or in which such person has an interest, and with respect to which payments, transfers, exportations, withdrawals, or other dealings may not be made or effected except pursuant to a license or other authorization from OFAC expressly authorizing such action.