[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]



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  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