Topics in Brief

• Author: International Law Group

U S. Treasury implements Executive Order blocking assets of persons who threaten stabilization in Western Balkans

Based on the authority granted by the International Emergency Economic Powers Act (50 U.S.C. 1701) and other laws, the U.S. President issued Executive 13219 (June 26, 2001) on "Blocking Property of Persons Who Threaten International Stabilization Efforts in the Western Balkans." The Executive Order intended to block the assets of person who contribute to extremist violence in the former Yugoslav Republic of Macedonia, southern Serbia, the Federal Republic of Yugoslavia, and elsewhere in the Western Balkans region. It identifies persons and gives criteria for the addition of persons whose assets will be blocked. Effective May 30, 2002, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC), has now issued implementing regulations (Western Balkan Regulations, 31 C.F.R. Part 588). The Regulations set forth the prohibitions of the Executive Order, describe how to hold blocked assets, and list any exempted transactions and assets. The OFAC website will periodically announce the names of affected persons.

Citation: 67 Federal Register 37671 (May 30, 2002).

Russia and U S. sign treaty on Strategic Offensive Reductions of nuclear weapons

On May 24, 2002, at the U.S.-Russia Summit Meeting in Moscow, the U.S. and the Russian Federation signed the Treaty on Strategic Offensive Reductions (Treaty of Moscow), and a Joint Declaration on the "New Strategic Relationship." The Treaty provides that each side gradually reduce its arsenals to between 1,700 and 2,200 warheads over ten years. Each party, however, will determine for itself "the composition and structure of its strategic offensive arms." The Joint Declaration addresses political cooperation in resolving regional conflicts, in economic cooperation, in "people-to-people" contacts, in preventing the proliferation of weapons of mass destruction and in resisting international terrorism. It also mentions the desirability of...