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Administration of William J. Clinton, 1998 / June 10 1089

Executive Order 13088—Blocking cludes the prohibition of financial trans- Property of the of the actions with, including trade financing for, Federal of the Governments of the Federal Republic of (), the Yugoslavia (Serbia and Montenegro), the Re- Republic of Serbia, and the Republic public of Serbia, and the Republic of Mon- of Montenegro, and Prohibiting New tenegro by persons. Investment in the Republic of Serbia Sec. 2. Nothing in section 1 of this order in Response to the Situation in shall prohibit financial transactions, including Kosovo trade financing, by United States persons within the territory of the Federal Republic June 9, 1998 of Yugoslavia (Serbia and Montenegro) if (a) conducted exclusively through the domestic By the authority vested in me as President banking system within the Federal Republic by the and the of the of Yugoslavia (Serbia and Montenegro) in United States of America, including the local currency (dinars), or (b) conducted International Emergency Economic Powers Act (IEEPA) (50 U.S.C. 1701 et seq.), the using bank notes or barter. National Emergencies Act (50 U.S.C. 1601 Sec. 3. Except as otherwise provided in et seq.), and section 301 of title 3, United regulations, orders, directives, or licenses States Code, that may hereafter be issued pursuant to this I, William J. Clinton, President of the order, all new investment by United States United States of America, find that the ac- persons in the territory of the Republic of tions and policies of the Governments of the Serbia, and the approval or other facilitation Federal Republic of Yugoslavia (Serbia and by United States persons of other persons’ Montenegro) and the Republic of Serbia new investment in the territory of the Re- with respect to Kosovo, by promoting ethnic public of Serbia, are prohibited. conflict and human suffering, threaten to de- Sec. 4. Any transaction by a United States stabilize countries of the region and to dis- person that evades or avoids, or has the pur- rupt progress in in pose of evading or avoiding, or attempts to implementing the Dayton peace agreement, violate, any of the prohibitions set forth in and therefore constitute an unusual and ex- this order is prohibited. traordinary threat to the national security and Sec. 5. For the purposes of this order: foreign policy of the United States, and here- (a) The term ‘‘person’’ means an individual by declare a national emergency to deal with or entity; that threat. (b) The term ‘‘entity’’ means a partnership, I hereby order: association, trust, joint venture, corporation, Section 1. (a) Except to the extent pro- or other organization; vided in section 2 of this order, section 203(b) of IEEPA (50 U.S.C. 1702(b)), and (c) The term ‘‘new investment’’ means (i) in regulations, orders, directives, or licenses the acquisition of debt or equity interests in, that may hereafter be issued pursuant to this (ii) a commitment or contribution of funds order, all property and interests in property or other assets to, or (iii) a loan or other ex- of the Governments of the Federal Republic tension of credit to, a public or private under- of Yugoslavia (Serbia and Montenegro), the taking, entity, or project, including the Gov- Republic of Serbia, and the Republic of ernment of the Republic of Serbia, other Montenegro that are in the United States, than donations of funds for purely humani- that hereafter come within the United States, tarian purposes to charitable organizations; or that are or hereinafter come within the (d) The term ‘‘United States person’’ possession or control of United States per- means any United States citizen, permanent sons, including their overseas branches, are resident alien, juridical person organized hereby blocked. under the laws of the United States (includ- (b) The blocking of property and property ing foreign branches), or any person in the interests in paragraph (a) of this section in- United States;

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(e) The term ‘‘ of the Federal ity to carry out the provisions of this order, Republic of Yugoslavia (Serbia and Montene- including suspension or termination of li- gro)’’ means the government of the Federal censes or other authorizations in effect as of Republic of Yugoslavia (Serbia and Montene- the effective date of this order. gro), its agencies, instrumentalities, and con- Sec. 7. The Secretary of the Treasury, in trolled entities, including all financial institu- consultation with the Secretary of , shall tions and state-owned and socially owned en- give special consideration to the cir- tities organized or located in the Federal Re- cumstances of the Government of the Re- public of Yugoslavia (Serbia and Montene- public of Montenegro and persons located gro) as of June 9, 1998, any successors to in and organized under the laws of the Re- such entities, and their respective subsidi- public of Montenegro in the implementation aries and branches, wherever located, and of this order. any persons acting or purporting to act for Sec. 8. Nothing contained in this order or on behalf of any of the foregoing; shall confer any substantive or procedural (f) The term ‘‘Government of the Republic right or privilege on any person or organiza- of Serbia’’ means the government of the Re- tion, enforceable against the United States, public of Serbia, including any subdivisions its agencies or its officers. thereof or local governments therein, its Sec. 9. (a) This order is effective at 12:01 agencies, instrumentalities, and controlled a.m. eastern daylight time on June 10, 1998. entities, including all financial institutions (b) This order shall be transmitted to the and state-owned and socially owned entities Congress and published in the Federal Reg- organized or located in the Republic of Ser- ister. bia as of June 9, 1998, any successors to such William J. Clinton entities, and their respective subsidiaries and branches, wherever located, and any persons The White House, acting or purporting to act for or on behalf June 9, 1998. of any of the foregoing; (g) The term ‘‘Government of the Repub- [Filed with the Office of the Federal Register, lic of Montenegro’’ means the government 8:45 a.m., June 11, 1998] of the Republic of Montenegro, including NOTE: This Executive order was released by the any subdivisions thereof or local govern- Office of the Press Secretary on June 10, and it ments therein, its agencies, instrumentalities, was published in the Federal Register on June 12. and controlled entities, including all financial institutions and state-owned and socially owned entities organized or located in the Remarks on Proposed Equal Pay Republic of Montenegro as of June 9, 1998, Legislation any successors to such entities, and their re- June 10, 1998 spective subsidiaries and branches, wherever located, and any persons acting or purporting Thank you very much, ladies and gentle- to act for or on behalf of any of the foregoing. men. We gather here to recognize and reaf- Sec. 6. The Secretary of the Treasury, in firm the historic commitment of this Nation consultation with the Secretary of State, is to equal opportunity. hereby authorized to take such actions, in- cluding the promulgation of rules and regula- Murder in Jasper, Texas tions, and to employ all powers granted to Before I get into my remarks, I hope you me by the International Emergency Eco- will understand if I don’t let the moment pass nomic Powers Act, as may be necessary to without making a brief comment about the carry out the purposes of this order. The Sec- shocking and outrageous murder of James retary of the Treasury may redelegate any Byrd, Jr., in Jasper, Texas. Federal en- of these functions to other officers and agen- forcement officials are on the ground there, cies of the United States Government, all assisting local law enforcement officials. Be- agencies of which are hereby directed to take cause it’s an ongoing investigation, I can’t all appropriate measures within their author- comment on the facts of the case, but I can

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