Which term describes the status of assets that are frozen due to sanctions or restrictions?

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Multiple Choice

Which term describes the status of assets that are frozen due to sanctions or restrictions?

Blocked property describes assets that have been frozen under sanctions. When OFAC designates a person or entity, all property under U.S. jurisdiction or in the possession or control of U.S. persons becomes blocked, meaning it cannot be transferred, paid, or accessed without explicit authorization. The designation list (SDN) identifies who is subject to blocking, but it is not the status of the assets itself. Narcotics Traffickers is a category used for designation, not the term for the frozen state of assets. OFAC Reporting relates to reporting blocked or restricted property, not the status itself. So the term that exactly describes the frozen assets is blocked property.

Blocked property describes assets that have been frozen under sanctions. When OFAC designates a person or entity, all property under U.S. jurisdiction or in the possession or control of U.S. persons becomes blocked, meaning it cannot be transferred, paid, or accessed without explicit authorization. The designation list (SDN) identifies who is subject to blocking, but it is not the status of the assets itself. Narcotics Traffickers is a category used for designation, not the term for the frozen state of assets. OFAC Reporting relates to reporting blocked or restricted property, not the status itself. So the term that exactly describes the frozen assets is blocked property.

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