President Joseph R. Biden signed a new Executive Order ("EO") to expand the scope of prohibitions contained in EO 13219 ("Blocking Property of Persons Who Threaten International Stabilization Efforts in the Western Balkans"), as amended by EO 13304.
The new EO blocks "all property and interests in property" within the United States of persons determined by the Secretary of the Treasury, in consultation with the Secretary of State, to:
- threaten the "peace, security, stability, or territorial integrity" of any area in the Western Balkans (defined as the territory of the former Socialist Federal Republic of Yugoslavia and the Republic of Albania);
- undermine democratic processes or institutions in the Western Balkans;
- violate any "regional security, peace, cooperation, or mutual recognition agreement" or accountability mechanism related to the Western Balkans;
- engage in corruption - including on behalf of a government in the Western Balkans, or a current or former government official in the Western Balkans - such as the misappropriation of public assets, expropriation of private assets or bribery;
- materially assist any person whose property is blocked pursuant to the EO; or
- be owned or controlled by any person whose property is blocked pursuant to the EO.
The EO's prohibitions include the making of or the receipt of funds, goods or services to or from any such blocked person.
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