Evidence from credible sources supports the statement as accurate. Learn more in Methodology.
Designated persons’ U.S. property and interests are blocked and subject to reporting to OFAC; prohibitions on transactions with those properties are in effect absent a license or exemption.
U.S. sanctions regulations for blocking programs provide that when a person is designated for blocking (e.g., placed on the SDN List or otherwise made a “blocked person”), all of that person’s property and interests in property that are in the United States or in the possession or control of U.S. persons are blocked. This is reflected in executive orders such as EO 13224 and related guidance, which state that all such property and interests in property are blocked once a blocking designation is made. Separately, OFAC’s reporting regulation at 31 C.F.R. § 501.603 requires any U.S. person holding blocked property to submit initial and annual reports of blocked property to OFAC, meaning blocked property must be reported. OFAC FAQs and program guidance reiterate that, for entities subject to blocking sanctions, their property in the U.S. or in the possession or control of U.S. persons is blocked and reportable to OFAC. Therefore, for persons who are actually subject to blocking sanctions, the statement that all such property and interests in property are blocked and must be reported to OFAC is accurate. The verdict is True because U.S. law and OFAC regulations explicitly require that all property and interests in property of blocked persons within U.S. jurisdiction or U.S. persons’ control be both blocked and reported to OFAC.