Blocking Property of the Governments of the Federal Republic of Yugoslavia (Serbia and Montenegro), the Republic of Serbia, and the Republic of Montenegro, and Prohibiting New Investment in the Republic of Serbia in Response to the Situation in Kosovo
Headline: Blocks Property of Yugoslav Governments, Bans New Investment in Serbia
What it does: Agencies must block those Yugoslav governments' property, prohibit financial transactions, and ban new investment in Serbia by United States persons.
- Freezes assets of Yugoslav governments in or controlled from the United States.
- Prohibits United States persons from making new investments in the Republic of Serbia.
- Limits financial transactions and trade financing, with exceptions for local currency or barter.
Summary
This order declares a national emergency over Kosovo and blocks property and interests of the governments of the Federal Republic of Yugoslavia (Serbia and Montenegro), the Republic of Serbia, and the Republic of Montenegro that are in the United States or controlled by United States persons.
It prohibits financial transactions and trade financing with those governments and bars new investment by United States persons in the Republic of Serbia.
Exceptions allow domestic transactions in local currency or barter; the Treasury, with the State Department, will issue rules and consider Montenegro.
Ask about this order
Ask questions about this executive order and its implications.
What agencies are affected by this order?
How does this order change existing policy?
What are the practical implications of this order?