CFR > 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 (parts 501 to 598) > PART 570—LIBYAN SANCTIONS REGULATIONS > SUBPART D—Interpretations (§570.401 to §570.406) > 570.405—Setoffs prohibited.

570.405—Setoffs prohibited.

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 § 570.201 if effected after the effective date.