On a Federal Register notice published on November 9, 2012, the Office of Foreign Assets Control (OFAC) issued a final rule with the regulations to implement Executive Order 13611 from May 16, 2012, which refers to Blocking Property of Persons Threatening the Peace, Security, or Stability of Yemen.
OFAC explains that the Yemen Sanctions Regulations are being published by OFAC under 31 CFR Part 552. According to the notice, "The Regulations are being published in abbreviated form at this time for the purpose of providing immediate guidance to the public. OFAC intends to supplement this part 552 with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance and additional general licenses and statements of licensing policy."
The Subparts listed on the new regulations are:
- Relation to other laws and regulations
- Prohibitions
- General Definitions
- Interpretations
- Licenses, Authorizations, and statements of licensing policy
The effective date for the Yemen Sanction Regulations is November 9, 2012.
The full text of the Federal Register notice can be found online here.
