515.406—Drafts under irrevocable letters of credit; documentary drafts.
Section 515.201 prohibits the presentation, acceptance or payment of:
(a)
Drafts or other orders for payment drawn under irrevocable letters of credit issued in favor or on behalf of any designated national;
(b)
Drafts or other orders for payment, in which any designated national has on or since the “effective date” had any interest, drawn under any irrevocable letter of credit; and
(c)
Documentary drafts in which any designated national has on or since the “effective date” had any interest.