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Electronic Code of Federal Regulations

e-CFR data is current as of December 3, 2019

Title 31Subtitle BChapter VPart 578Subpart B → §578.204


Title 31: Money and Finance: Treasury
PART 578—CYBER-RELATED SANCTIONS REGULATIONS
Subpart B—Prohibitions


§578.204   Expenses of maintaining blocked property; liquidation of blocked property.

(a) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or contract entered into or any license or permit granted prior to the effective date, all expenses incident to the maintenance of physical property blocked pursuant to §578.201 shall be the responsibility of the owners or operators of such property, which expenses shall not be met from blocked funds.

(b) Property blocked pursuant to §578.201 may, in the discretion of OFAC, be sold or liquidated and the net proceeds placed in a blocked interest-bearing account in the name of the owner of the property.

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