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Presidential Determination

Presidential Certification To Suspend Sanctions Imposed on the Federal Republic of Yugoslavia (Serbia and Montenegro)

President Clinton certified the suspension of U.S. sanctions on Serbia and Montenegro effective upon transmittal to Congress, implementing UN Security Council Resolutions 1021 and 1022 following the Dayton Peace Agreement. The determination directs the Secretaries of Treasury, Transportation, and State to suspend respective sanctions programs while keeping blocked property frozen until claims are addressed and maintaining the underlying national emergency.

Federal Register Open PDF 61 FR 2887

Impact dates

  1. Bosnia-Herzegovina elections per Dayton Agreement

  2. Sanctions suspension effective upon transmittal to Congress

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Banking & financeShipping & logisticsAerospaceOil & gas

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • MixedDomestic producer — U.S. companies may gain access to FRY markets but face uncertainty from reimposition mechanism and frozen claims
  • ProtectiveImporter — Suspension removes barriers to FRY goods; reimposition risk creates planning uncertainty
  • ProtectiveTrading-partner exporter — FRY/Serbian exporters regain U.S. market access contingent on Dayton compliance

Geographies

USOTHER

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

EADSYAirbusBACBank of AmericaBLKBlackRockBABoeingLNGCheniere EnergyCVXChevronCOPConocoPhillipsDACDanaosXOMExxon MobilGEGE AerospaceGEVGE VernovaGSGoldman SachsHONHoneywellHSBCHSBCJPMJPMorgan ChaseLMTLockheed MartinMATXMatsonNOCNorthrop GrummanRTXRTXSHELShellSPYSPDR S&P 500 ETFTSLATeslaZTOZTO Express

Confidence: medium · Policy alerts

Key directives

  • Secretary of Treasury to suspend sanctions under EO 12808, 12810, 12831, 12846 effective upon transmittal to Congress
  • Secretary of Transportation to suspend sanctions under DOT orders and SFAR 66-2 effective upon transmittal to Congress
  • Secretary of State authorized to suspend visa sanctions under Public Notice 1427 at appropriate time per UNSCR 1021
  • National emergency declared in EO 12808 and expanded in EO 12934 continues in effect

Who is ordered

Timeline

Immediate

  • Suspension of sanctions effective upon transmittal to Congress
  • Treasury sanctions on financial transactions suspended
  • Transportation sanctions on aviation suspended
  • Blocked property remains frozen pending claims resolution

Near term (90d)

  • State Department visa sanctions suspension timing to be determined
  • UN sanctions monitoring transition
  • Sanctions Assistance Mission infrastructure remains in place

Long term

  • Potential reimposition of sanctions if Dayton obligations violated
  • Resolution of property claims and encumbrances
  • Elections in Bosnia-Herzegovina within one year per Dayton

Risks & tensions

  • Reimposition mechanism contingent on IFOR commander or High Representative determination—external dependency creates uncertainty
  • Blocked property remains frozen; claims resolution timeline unspecified
  • State Department suspension timing vague ('at the appropriate time')
  • Continued national emergency preserves presidential authorities for rapid reimposition
Presidential Determination: Presidential Certification To Suspend Sanctions Imposed on the Federal Republic of Yugoslavia (Serbia and Montenegro) · Executive Orders