The Entity List is an export control instrument, not a sanctions list. Being on it does not freeze property or prohibit all dealings; it imposes a licence requirement, usually with a stated presumption of denial, on exports of items subject to the Export Administration Regulations to that party.
It is published as Supplement No. 4 to Part 744 of the EAR and is also bundled into the Consolidated Screening List. Confusing it with the SDN List is one of the most common errors in reporting on sanctions, and the two carry entirely different obligations.