31 CFR § 588.206 - Exempt transactions.

---
identifier: "/us/cfr/t31/s588.206"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 588.206 - Exempt transactions."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "588.206"
section_name: "Exempt transactions."
chapter_name: "OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY"
part_number: "588"
part_name: "WESTERN BALKANS STABILIZATION REGULATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601  1701  22 U.S.C. 287c; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13219, 66 FR 34777, 3 CFR, 2001 Comp., p. 778; E.O. 13304, 68 FR 32315, 3 CFR, 2004 Comp., p. 229; E.O. 14033, 86 FR 43905, 3 CFR, 2022 Comp., p. 591."
regulatory_source: "87 FR 58996, Sept. 29, 2022, unless otherwise noted."
cfr_part: "588"
---


# 588.206 Exempt transactions.

(a) *United Nations Participation Act.* The exemptions cited in this section do not apply to transactions involving property or interests in property of persons whose property and interests in property are blocked pursuant to the authority of the United Nations Participation Act, as amended (22 U.S.C. 287c(b)) (UNPA).

Persons whose property and interests in property are blocked pursuant to the authority of the UNPA include those listed on *both* OFAC's Specially Designated Nationals and Blocked Persons List and the Consolidated United Nations Security Council Sanctions List (*see https://www.un.org).*

(b) *International Emergency Economic Powers Act.* The prohibitions contained in this part do not apply to any transactions that are exempt pursuant to section 203(b) of the International Emergency Economic Powers Act, (50 U.S.C. 1702(b)).

(c) *Official business.* The prohibitions contained in § 588.201(a)(3) do not apply to any transactions for the conduct of the official business of the United States Government by employees, grantees, or contractors thereof.