[Federal Register Volume 63, Number 103 (Friday, May 29, 1998)]
[Presidential Documents]
[Pages 29527-29528]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-14527]
[[Page 29525]]
_______________________________________________________________________
Part VIII
The President
_______________________________________________________________________
Notice of May 28, 1998--Continuation of Emergency With Respect to the
Federal Republic of Yugoslavia (Serbia and Montenegro) and the Bosnian
Serbs
Presidential Documents
Federal Register / Vol. 63, No. 103 / Friday, May 29, 1998 /
Presidential Documents
___________________________________________________________________
Title 3--
The President
[[Page 29527]]
Notice of May 28, 1998
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 Order 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 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 by issuing Executive Order 12934 to
block the property of the Bosnian Serb forces and the
authorities in the territory that they control within
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 initialed by the parties in
Dayton 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 Bosnia and Herzegovina were subsequently
suspended prospectively, effective May 10, 1996, also
in conformity with the Peace Agreement and the
Resolution. Sanctions against both the Federal Republic
of Yugoslavia (Serbia and Montenegro) and the Bosnian
Serbs were subsequently terminated by United Nations
Security Council Resolution 1074 of October 1, 1996.
This termination, however, did not end the requirement
of the Resolution that blocked funds and assets that
are subject to claims and encumbrances remain blocked,
until unblocked in accordance with applicable law.
[[Page 29528]]
In the last year, further substantial progress has been
achieved to bring about a settlement of the conflict in
the former Yugoslavia acceptable to the parties.
Another set of elections occurred in Bosnia and
Herzegovina, as provided for in the Peace Agreement,
and the Bosnian Serb forces have continued to respect
the zones of separation as provided in the Peace
Agreement. The ultimate disposition of the various
remaining categories of blocked assets is being
addressed on a case-by-case basis.
Until the status of all remaining blocked property is
resolved, the Peace Agreement implemented, and the
terms of the Resolution 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, 1998.
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 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 28, 1998.
[FR Doc. 98-14527
Filed 5-28-98; 12:06 pm]
Billing code 3195-01-P
