Continuation of Emergency With Respect to the Federal Republic of Yugoslavia (Serbia and Montenegro)

President Clinton continued two national emergencies regarding the Federal Republic of Yugoslavia (Serbia and Montenegro) beyond their expiration dates—one originally declared by President Bush on May 30, 1992 and expanded in 1994, and another declared on June 9, 1998 in response to the Kosovo crisis. The continuation maintains blocking sanctions on property and prohibits new investment in Serbia due to ongoing ethnic cleansing and regional instability.

Federal Register Open PDF 64 FR 29205

Impact dates

May 30, 1999
Original emergency would have expired without continuation

Key directives

Continue national emergency declared May 30, 1992 as expanded October 24, 1994
Continue national emergency declared June 9, 1998
Maintain blocking of property and interests in property
Continue prohibition on new investment in Republic of Serbia
Publish notice in Federal Register
Transmit notice to Congress

Who is ordered

Secretary of the Treasury · Treasury

Timeline

Immediate

Continued national emergency authorities beyond May 30, 1999 and June 9, 1999 expiration dates
Property blocking sanctions remain in force
Prohibition on new investment in Republic of Serbia continues

Near term (90d)

Potential further executive action depending on Kosovo developments
Continued blocked property status resolution efforts

Long term

Emergency authorities remain until Congress terminates or President ends declaration
Blocked funds and assets remain frozen until claims and encumbrances resolved under applicable law

Risks & tensions

Humanitarian crisis in Kosovo cited as justification, but emergency powers also entrench long-running sanctions regime with unclear end state
Blocked property claims involving successor states remain unresolved since 1995-1996
Reliance on UN Security Council resolutions that have technically terminated but left residual blocking requirements