1. LawStack
  2. Title 31 - Money and Finance: Treasury
  3. Subtitle B - Regulations Relating to Money and Finance
  4. Chapter V - Office of Foreign Assets Control, Department of the Treasury
  5. Part 560 - Iranian Transactions and Sanctions Regulations
  6. Subpart D - Interpretations
  7. 31 CFR § 560.421
31 CFR § 560.421
Setoffs prohibited
July 31, 2023
CFR

§ 560.421 Setoffs prohibited.

A setoff against blocked property (including a blocked account), whether by a U.S. bank or other U.S. person, is a prohibited transfer under § 560.211 if effected after the effective date.

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§ 560.420 Reexportation by non-U.S. persons of certain foreign-made products containing U.S.-origin goods or technology
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§ 560.422 Termination and acquisition of an interest in blocked property

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