Lifting and Modifying Measures With Respect to the Federal Republic of Yugoslavia (Serbia and Montenegro)

This executive order lifts broad economic sanctions against the Federal Republic of Yugoslavia (Serbia and Montenegro) while maintaining targeted asset freezes and transaction prohibitions against Slobodan Milosevic, his associates, and persons indicted by the International Criminal Tribunal for the former Yugoslavia. It amends Executive Order 13088 to narrow sanctions from country-wide to individually designated persons, effective January 19, 2001.

Federal Register Open PDF 66 FR 7379

Impact dates

Jan 19, 2001
Order effective; property blocked prior to this date remains blocked; new targeted sanctions take effect

Key directives

Revoke broad country-based sanctions in Executive Order 13088
Block property of persons listed in Annex and persons determined by Treasury/State under four criteria (ICTY indictment, illegitimate control, material support, ownership/control)
Prohibit transactions by U.S. persons in property of designated persons
Authorize Treasury/State to remove persons from Annex as circumstances warrant
Preserve pre-existing rules, regulations, and licenses unless terminated by issuing agency

Who is ordered

Timeline

Immediate

Broad sanctions on FRY (S&M) lifted
Targeted sanctions on designated individuals take effect
Property blocked prior to January 19, 2001 remains frozen

Near term (90d)

Treasury/State Department implementation of revised regulations
Potential removal of persons from Annex as circumstances warrant

Long term

Continued enforcement of targeted sanctions regime
Ongoing cooperation with ICTY through financial measures

Risks & tensions

Narrow 2-day implementation window between signing and effective date may create compliance gaps
Vague 'as circumstances warrant' standard for Annex removals creates uncertainty
Preservation of pre-existing licenses and rules (Section 2) may create confusion with new regime
Reliance on ICTY indictments ties U.S. sanctions to international tribunal proceedings outside direct U.S. control