GroundRules
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.
Where this section sits in the code
- Title 31—Money and Finance: Treasury
- Subtitle B—Regulations Relating to Money and Finance
- CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
- PART 589—UKRAINE-/RUSSIA-RELATED SANCTIONS REGULATIONS
- Subpart D—Interpretations
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.
Collected 2026-08-27T02:25:25Z. Source file · JSON