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 576—IRAQ STABILIZATION AND INSURGENCY SANCTIONS REGULATIONS > SUBPART D—Interpretations (§576.401 to §576.412) > 576.403—Setoffs prohibited.

576.403—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 § 576.201 if made after the effective date.