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H.Doc.107-225 INTENTION TO REALLOCATE FUNDS PREVIOUSLY TRANSFERRED FROM THE ...


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107th Congress, 2d Session - - - - - - - - - - - House Document 107-224 


 
 SIX MONTH PERIODIC REPORT ON THE NATIONAL EMERGENCY WITH RESPECT TO 
             YUGOSLAVIA (SERBIA AND MONTENEGRO) AND KOSOVO

                               __________

                             COMMUNICATION

                                  from

                   THE PRESIDENT OF THE UNITED STATES

                              transmitting

A COMBINED SIX MONTH PERIODIC REPORT ON THE NATIONAL EMERGENCIES 
  DECLARED WITH RESPECT TO THE FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND 
  MONTENEGRO) DECLARED IN EXECUTIVE ORDER 12808 ON MAY 30, 1992 AND 
  KOSOVO IN EXECUTIVE ORDER 13088 ON JUNE 9, 1998, PURSUANT TO 50 U.S.C. 
  1641(c)

<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>


June 4, 2002.--Referred to the Committee on International Relations and 
                         ordered to be printed
                               __________

                    U.S. GOVERNMENT PRINTING OFFICE
99-011                    WASHINGTON : 2002

                                           The White House,
                                          Washington, May 27, 2002.
Hon. J. Dennis Hastert,
Speaker of the House of Representatives,
Washington, DC.
    Dear Mr. Speaker:  As required by section 401(c) of the 
National Emergencies Act, 50 U.S.C. 1641(c), and section 204(c) 
of the International Emergency Economic Powers Act, 50 U.S.C. 
1703(c), I am providing a report prepared by my Administration 
on a combined 6-month periodic report on the national 
emergencies declared with respect to the Federal Republic of 
Yugoslavia (Serbia and Montenegro) in Executive Order 12808 on 
May 30, 1992, and Kosovo in Executive Order 13088 on June 9, 
1998.
            Sincerely,
                                                    George W. Bush.
Periodic Report on the National Emergencies With Respect to the Federal 
              Republic of Yugoslavia (Serbia & Montenegro)

    I hereby report to the Congress on developments over the 
course of the past 6 months concerning the national emergency 
with respect to the Federal Republic of Yugoslavia (Serbia and 
Montenegro) (the ``FRY (S&M)'') that was declared in Executive 
Order 12808 on May 30, 1992, and was expanded in Executive 
Order 12934, issued on October 25, 1994, with respect to the 
Bosnian Serbs. I am also reporting to the Congress on 
developments over the course of the past 6 months concerning 
the national emergency with respect to the FRY (S&M) and Kosovo 
that was declared in Executive Order 13088 on June 9, 1998, as 
supplemented by Executive Order 13121, issued on April 30, 
1999, and as amended in Executive Order 13192 of January 17, 
2001. This report is submitted pursuant to section 204(c) of 
the International Emergency Economic Powers Act, 50 U.S.C. 
1703(c) (``IEEPA''), and section 401(c) of the National 
Emergencies Act, 50 U.S.C. 1641(c).
    With regard to the national emergency declared in 1992, the 
Office of Foreign Assets Control (``OFAC'') has continued 
during the past 6 months to oversee the maintenance of FRY 
(S&M) accounts and records blocked pursuant to the Federal 
Republic of Yugoslavia (Serbia and Montenegro) and Bosnian 
Serb-controlled Areas of the Republic of Bosnia and Herzegovina 
Sanctions Regulations, 31 CFR Part 585 (the ``Bosnia and 
Herzegovina Regulations''). The Departments of State and 
Treasury continue to work closely with the European Union 
member states and other U.N. member nations to implement the 
provisions of United Nations Security Council Resolutions 1022 
and 1074 regarding the status of assets subject to claims or 
encumbrances previously blocked under that authority.
    With regard to the national emergency declared in 1998, the 
President issued Executive Order 13192 on January 17, 2001, 
amending Executive Order 13088 to lift and modify, with respect 
to future transactions, most of the economic sanctions imposed 
against the FRY (S&M). The Order imposes restrictions on 
transactions with certain persons described in Section 1(a) of 
the Order and also provides for the continued blocking of 
property or interests in property blocked pursuant to the 
Federal Republic of Yugoslavia (Serbia & Montenegro) Kosovo 
Sanctions Regulations, 31 CFR Part 586 (the ``Kosovo 
Regulations'') prior to the Order's effective date pending 
resolution of claims and encumbrances. Ongoing sanctionsagainst 
Milosevic are administered pursuant to the Federal Republic of 
Yugoslavia (Serbia & Montenegro) Milosevic Regulations, 31 CFR Part 587 
(the ``Milosevic Regulations'').
    Further information with regard to the national emergencies 
declared in 1992 and 1998 is provided below.
    1. There have been no amendments to the Bosnia and 
Herzegovina Regulations, the Kosovo Regulations or the 
Milosevic Regulations. OFAC issued regulations implementing 
Executive Order 13192 on October 3, 2001, (66 FR 50506, October 
3, 2001). These regulations include conforming amendments to 
the Federal Republic of Yugoslavia (Serbia & Montenegro) Kosovo 
Sanctions Regulations, 31 CFR Part 586 (the ``Kosovo 
Regulations''), as well as new regulations, the Federal 
Republic of Yugoslavia (Serbia & Montenegro) Milosevic 
Regulations, 31 CFR Part 587 (the ``Milosevic Regulations'').
    2. During this reporting period, OFAC issued a total of 
three specific licenses pursuant to the Bosnia and Herzegovina 
Regulations. Specific licenses were issued to: (1) unblock 
certain specific bank accounts; (2) unblock shares of common 
stock; and (3) permit the transfer of all blocked property and 
interests in property of two Yugoslav banking institutions to 
the state banking department of the state in which they were 
located in accordance with state banking law. The property and 
interests in property of the two Yugoslav banking institutions 
are to remain blocked.
    During this reporting period, OFAC issued a total of four 
specific licenses pursuant to the Kosovo Regulations. Specific 
licenses were issued to: (1) unblock wire transfers where it 
was determined that there was no FRY (S&M) property interest in 
the funds; (2) unblock specific enumerated civil aircraft 
components belonging to Yugoslav companies; and (3) authorize 
the provision of legal services.
    During this reporting period, OFAC issued two specific 
licenses pursuant to the Milosevic Regulations. One unblocked 
funds where it was determined that there was no proscribed 
property interest in the funds and the other authorized the 
receipt of payment for the provision of legal services.
    3. Since my last report, OFAC has collected five civil 
monetary penalties totaling nearly $24,000 for violations of 
the sanctions by five U.S. financial institutions. These 
violations involved payments either to the Government of the 
FRY (S&M),persons in the FRY (S&M), or to blocked entities 
owned or controlled by the Government of the FRY (S&M), as well as the 
export of unauthorized services thereto. An additional case is 
undergoing penalty action for violation of the Bosnia and Herzegovina 
Regulations and an additional 69 cases are undergoing penalty action 
for violation of the Kosovo Regulations.
    The trial of a resident alien, along with his company, who 
were named in a February 16, 2000, 40-count indictment in the 
Central District of California, has been rescheduled from 
December 4, 2001, to June 4, 2002. The defendant allegedly 
shipped the aircraft parts to Jugoslovenski Aerotransport via 
third countries with the knowledge that they would be 
transshipped to the FRY (S&M) without authorization by the 
United States Government.
    4. The expenses incurred by the Federal Government in the 
6-month period from December 1, 2001, through May 30, 2002, 
that are directly attributable to the declaration of the 
national emergencies made in 1992 and 1998 are estimated at 
approximately $305,000, most of which represents wage and 
salary costs for Federal personnel. Personnel costs were 
largely centered in the Department of the Treasury 
(particularly in OFAC, the Chief Counsel's Office, and the U.S. 
Customs Service), the Department of State, the National 
Security Council, and the Department of Commerce.
    5. It is in the United States' foreign policy interest to 
support Yugoslavia's democratically-elected government as it 
works toward building a society based on democratic ideals. We 
also have a strong interest in avoiding prejudice to the claims 
of U.S. persons and successor States of the former Socialist 
Federal Republic of Yugoslavia with respect to previously 
blocked funds and assets. Further, we will ensure that 
sanctions-lifting measures do not allow supporters of Slobodan 
Milosevic to continue the systematic theft of resources that 
have marked previous years.
    With regard to the national emergency declared in 1992, 
until the status of all remaining blocked property is resolved, 
the Dayton Peace Agreement is implemented, and the terms of 
United Nations Security Council Resolution 1022 are met, I 
shall exercise the powers at my disposal to deal with this 
unusual and extraordinary threat and will continue to report 
periodically to the Congress on significant developments as 
required by law. With regard to the national emergency declared 
in 1998, until the crisis with respect to the situation in 
Kosovo, and with respect to Slobodan Milosevic, his close 
associates and supporters and persons under open indictment for 
war crimes by the International Criminal Tribunal for the 
Former Yugoslavia, and with respect to property previously 
blocked, has been resolved, I shall exercise the powers at my 
disposal to deal with this unusual and extraordinary threat and 
will continue to report periodically to the Congress on 
significant developments as required by law.

                                  <all>


Pages: 1

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