Evidence from credible sources supports the statement as accurate. Learn more in Methodology.
Property and interests in property of the designated persons in the U.S. or controlled by U.S. persons are blocked and subject to OFAC reporting and transaction prohibitions absent authorization.
OFAC’s regulations and guidance state that when a person is designated (i.e., becomes a “blocked” person), all property and interests in property of that person that are in the United States or in the possession or control of U.S. persons must be blocked, reported to OFAC, and are generally prohibited from transactions by U.S. persons or within/transiting the United States unless authorized by an OFAC general or specific license or otherwise exempt. Verdict: True — U.S. law and OFAC guidance (31 C.F.R. §501.603 and OFAC FAQs) explicitly impose blocking, reporting, and a general prohibition on dealings absent authorization.