[Federal Register Volume 61, Number 104 (Wednesday, May 29, 1996)]
[Presidential Documents]
[Pages 26773-26774]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13579]
Presidential Documents
Federal Register / Vol. 61, No. 104 / Wednesday, May 29, 1996 /
Presidential Documents
[[Page 26773]]
Notice of May 24, 1996
Continuation of Emergency With Respect to the
Federal Republic of Yugoslavia (Serbia and Montenegro)
and the Bosnian Serbs
On May 30, 1992, by Executive Order 12808, President
Bush declared a national emergency to deal with the
unusual and extraordinary threat to the national
security, foreign policy, and economy of the United
States constituted by the actions and policies of the
Governments of Serbia and Montenegro, blocking all
property and interests in property of those
Governments. President Bush took additional measures to
prohibit trade and other transactions with the Federal
Republic of Yugoslavia (Serbia and Montenegro) by
Executive Orders 12810 and 12831, issued on June 5,
1992, and January 15, 1993, respectively. On April 25,
1993, I issued Executive Order 12846, blocking the
property and interests in property of all commercial,
industrial, or public utility undertakings or entities
organized or located in the Federal Republic of
Yugoslavia (Serbia and Montenegro), and prohibiting
trade-related transactions by United States persons
involving those areas of the Republic of Bosnia and
Herzegovina controlled by Bosnian Serb forces and the
United Nations Protected Areas in the Republic of
Croatia. On October 25, 1994, because of the actions
and policies of the Bosnian Serbs, I expanded the scope
of the national emergency to block the property of the
Bosnian Serb forces and the authorities in the
territory that they control within the Republic of
Bosnia and Herzegovina, as well as the property of any
entity organized or located in, or controlled by any
person in, or resident in, those areas.
On December 27, 1995, I issued Presidential
Determination No. 96-7, directing the Secretary of the
Treasury, inter alia, to suspend the application of
sanctions imposed on the Federal Republic of Yugoslavia
(Serbia and Montenegro) pursuant to the above-
referenced Executive orders and to continue to block
property previously blocked until provision is made to
address claims or encumbrances, including the claims of
the other successor states of the former Yugoslavia.
This sanctions relief, in conformity with United
Nations Security Council Resolution 1022 of November
22, 1995 (hereinafter the ``Resolution''), was an
essential factor motivating Serbia and Montenegro's
acceptance of the General Framework Agreement for Peace
in Bosnia and Herzegovina initialled by the parties in
Dayton, Ohio, on November 21, 1995, and signed in Paris
on December 14, 1995 (hereinafter the ``Peace
Agreement''). The sanctions imposed on the Federal
Republic of Yugoslavia (Serbia and Montenegro) were
accordingly suspended prospectively, effective January
16, 1996. Sanctions imposed on the Bosnian Serb forces
and authorities and on the territory that they control
within the Republic of Bosnia and Herzegovina were
subsequently suspended prospectively, effective May 10,
1996, also in conformity with the Peace Agreement and
Resolution.
In the last year, substantial progress has been
achieved to bring about a settlement on the conflict in
the former Yugoslavia acceptable to the parties. Before
agreeing to the sanctions suspension, the United States
insisted on a credible reimposition mechanism to ensure
the full implementation of the Peace Agreement. Thus,
Resolution 1022 provides a mechanism to reimpose the
sanctions if the Federal Republic of Yugoslavia or the
Bosnian Serb authorities fail significantly to meet
their obligations under the Peace Agreement. It also
provides that sanctions will not be terminated until
after the first free and fair elections occur in the
Republic of Bosnia and Herzegovina, as provided for in
the Peace Agreement, and provided that
[[Page 26774]]
the Bosnian Serb forces have continued to respect the
zones of separation as provided in the Peace Agreement.
The Resolution also provides for the continued blocking
of assets potentially subject to conflicting claims and
encumbrances, including the claims of the other
successor states of the former Yugoslavia, until
provision is made to address them.
Because the resolution of the crisis and conflict in
the former Yugoslavia that resulted from the actions
and policies of the Government of the Federal Republic
of Yugoslavia (Serbia and Montenegro), and of the
Bosnian Serb forces and the authorities in the
territory that they control, will not be complete until
such time as the Peace Agreement is implemented fully
and the terms of Resolution 1022 have been met, the
national emergency declared on May 30, 1992, as
expanded in scope on October 25, 1994, and the measures
adopted pursuant thereto to deal with that emergency
must continue beyond May 30, 1996.
Therefore, in accordance with section 202(d) of the
National Emergencies Act (50 U.S.C. 1622(d)), I am
continuing the national emergency with respect to the
Federal Republic of Yugoslavia (Serbia and Montenegro)
and the Bosnian Serb forces and those areas of the
Republic of Bosnia and Herzegovina under the control of
the Bosnian Serb forces.
This notice shall be published in the Federal Register
and transmitted to the Congress.
(Presidential Sig.)
THE WHITE HOUSE,
May 24, 1996.
[FR Doc. 96-13579
Filed 5-28-96; 8:45 am]
Billing code 4810-25-M
