Blocking Property of Persons Threatening the Peace, Security, or Stability of Yemen
May 18, 2012
Signed by: Barack Obama
Signed on: May 16, 2012
Published on: May 18, 2012
May 18, 2012
Signed by: Barack Obama
Signed on: May 16, 2012
Published on: May 18, 2012
Summary
Freezes the money and property of anyone who threatens the peace, safety, or stability of Yemen to support a peaceful change of power.
What problem does this solve?
Some people in Yemen are trying to stop a peaceful change in government, which is a threat to the country and the U.S. This order stops them by freezing any money or property they have in the United States.
What does this order do?
Blocks property and assets
Freezes all property and money in the U.S. belonging to people who are found to be threatening the peace, security, or stability of Yemen.
Reference
Text:
Declares a national emergency
States that the actions of certain people in Yemen are an unusual and extraordinary threat to the national security and foreign policy of the United States.
Defines who can be sanctioned
Includes people who obstruct the political process, military or political leaders of groups doing so, and anyone who provides support to them.
Prohibits donations
Bans making donations like food, clothing, and medicine to any person whose property is blocked by this order.
Allows sanctions without prior notice
Determines that to be effective, property can be frozen without first telling the person, so they cannot move their money or assets quickly.
Authorizes the Secretary of the Treasury
Gives the Secretary of the Treasury the power to create rules and take actions needed to carry out the order.
Who does this affect?
- Individuals and groups in Yemen deemed to be threatening peace and stability
- U.S. financial institutions
- U.S. persons
What is the real world impact?
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Supports a peaceful power change in Yemen
Uses financial pressure to make sure the November 23, 2011 agreement for a peaceful government change in Yemen is followed.
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Discourages opposition to the political process
Prevents individuals or groups from using their money to disrupt the political process or cause instability in Yemen.
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Gives broad power to sanction individuals
Allows the Secretary of the Treasury to freeze assets of people with little public oversight, which could be used to target political opponents.
When does this start?
This order becomes effective on May 16, 2012.