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  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 589 - Ukraine-/Russia-Related Sanctions Regulations
  6. Subpart D - Interpretations
  7. 31 CFR § 589.412
31 CFR § 589.412
Projects owned, or to which a majority of voting rights are held, by one or more persons subject to § 589.205
July 31, 2023
CFR

§ 589.412 Projects owned, or to which a majority of voting rights are held, by one or more persons subject to § 589.205.

The prohibitions in § 589.205(b) apply to projects owned 33 percent or more, or to projects in which a majority of voting interests are held, individually or in the aggregate, by one or more persons subject to § 589.205, their property, or their interests in property, including entities owned 50 percent or more by one or more persons subject to § 589.205.

Example 1 to § 589.412:

If two entities that are each subject to § 589.205 each hold a 20 percent ownership interest in Project X, or together own a majority of the voting interests in Project X, then the prohibition in § 589.205(b) applies to Project X.

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§ 589.411 Entities owned by one or more persons whose property and interests in property are blocked or who are subject to § 589.202, § 589.203, § 589.204, or § 589.205
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§ 589.413 Significant transaction(s); significant financial transaction(s)

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