C.F.R. » Title 31 » CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY › PART 576—IRAQ STABILIZATION AND INSURGENCY SANCTIONS REGULATIONS › Subpart D—Interpretations

31 C.F.R. § 576.403

Setoffs prohibited

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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 § 576.201 if made after the effective date.