Mali Sanctions Regulations

As previously announced by the Office of Foreign Assets Control, OFAC (please see EventID 22399 in this context), the U.S. Department of the Treasury has now published in the Federal Register its final rule to replace Statutory Instrument 31 CFR Part 555 relating to sanction regulations with respect to Mali in its entirety.
#### Background
The statutory instrument was quickly implemented in abbreviated form in 2020 following the issuance of new Executive Order 13882 by President Donald Trump, which declared a stage of emergency with respect to Mali and empowered the Secretary of State to designate individuals, firms, and bodies for their engagement in human rights violation, the recruitment of children for military purposes, their engagement in violence, or other actions that threaten the peace and stability in Mali.
#### New rule
This new rules now implements the remaining provisions of Executive Order 13882 which have not been implemented yet in the sanctions regulations, thereby replacing the old statutory instrument simply due to the large number of modifications.
As noted in the announcement, some of the key „amendments“ made to Part 555 are as follows:
– integration of several new terms and definitions;
– integration of a new general license that permits U.S. financial institutions to „invest and reinvest certain blocked assets“ (new § 555.506);
– integration of new provisions to prohibit donations in any form to sanctioned entities or persons (new § 555.408);
– integration of a new provision to apply the restrictions relating to the freezing of funds and the making available of funds to offshore transactions as well (new § 555.406); and
– the renumbering of various provisions and the inclusion of new sanction evasion provisions.
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For all provisions, please refer to the original legal document.