7/18/2014

Obama uses Russia's actions in the Ukraine to ban importation of AK-47s

The day before the tragic shooting down of a passenger airline the Obama administration banned the importation of AK-47s from Kalashnikov company.  Here is the Treasury order:
374. If I own a Kalashnikov product, is that product blocked by sanctions?  Am I able to resell a Kalashnikov product at a gun show or other secondary market?  
If a U.S. person is in possession of a Kalashnikov Concern product that was bought and fully paid for prior to the date of designation (i.e., no payment remains due to Kalashnikov Concern), then that product is not blocked and OFAC sanctions would not prohibit the U.S. person from keeping or selling the product in the secondary market, so long as Kalashnikov Concern has no interest in the transaction.  New transactions by U.S. persons with Kalashnikov Concern are prohibited, however, and any property in which Kalashnikov Concern has an interest is blocked pursuant to OFAC’s designation of Kalashnikov Concern on July 16, 2014.  If a U.S. person has an inventory of Kalashnikov Concern products in which Kalashnikov Concern has an interest (for example, the products are not fully paid for or are being sold on consignment), we advise that U.S. person to contact OFAC for further guidance on handling of the inventory. [7-16-2014]
Of course, these aren't the military versions of the AK-47 that are used in wars around the world, but civilian semi-automatic versions of the guns. 

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