The terms blocked account and blocked property shall mean any account or property subject to the prohibitions in Sec. 558.201 held in the name of a person whose property and interests in property are blocked pursuant to Sec. 558.201, or in which such person has an interest, and with respect to which payments, transfers, exportations, withdrawals, or other dealings may not be made or effected except pursuant to an authorization or license from OFAC expressly authorizing such action.
Note to Sec. 558.301: See Sec. 558.406 concerning the blocked status of property and interests in property of an entity that is 50 percent or more owned by a person whose property and interests in property are blocked pursuant to Sec. 558.201.