Executive Order 12635 --
Prohibiting Certain Transactions With Respect to
By
the authority vested in me as President by the Constitution and laws of the
United States of America, including the International Emergency Economic Powers
Act (50 U.S.C. 1701 et seq.), the National Emergencies Act (50 U.S.C. 1601 et
seq.), and section 301 of title 3 of the United States Code,
I,
Ronald Reagan, President of the
Section 1. I hereby order blocked all property and
interests in property of the Government of Panama that are in the United
States, that hereafter come within the United States, or that are or hereafter
come within the possession or control of persons located within the United
States. For purposes of this Order, the Government of Panama is defined to
include its agencies, instrumentalities and controlled entities, including the Banco Nacional de Panama and the Caja de Ahorros.
Sec. 2. Except to the extent provided in
regulations which may hereafter be issued pursuant to this Order:
(a)
Any direct or indirect payments or transfers from the
(b)
Any direct or indirect payments or transfers to the Noriega/Solis regime of
funds, including currency, cash or coins of any nation, or of other financial
or investment assets or credits, by any United States person located in the
territory of Panama, or by any person organized under the laws of Panama and
owned or controlled by a United States person, are prohibited. All transfers,
or payments owed, to the Government of Panama by such persons shall be made
into an account at the Federal Reserve Bank of New York, to the held for the
benefit of the Panamanian people. For purposes of Section 2(b), ``United States
person'' is defined to mean any United States citizen, permanent resident
alien, juridical person organized under the laws of the United States, or any
person in the United States.
Sec. 3. Sections 1 and 2 shall not be deemed to
block property or interests in property of the Government of Panama, including,
but not limited to, accounts established at the Federal Reserve Bank of New
York as described in section 2, with respect to which transactions are
authorized by, or on behalf of, the recognized representative of the Government
of Panama as certified by the Secretary of State, or are otherwise authorized
in regulations which may hereafter be issued pursuant to this Order. Section 2
shall not be deemed to prohibit interbank clearing
payments.
Sec. 4. The measures taken pursuant to this
Order are intended to extend the effectiveness of actions initiated in
cooperation with the Government of Panama and its President, Eric Arturo Delvalle, and are not intended to block private Panamanian
assets subject to the jurisdiction of the United States or to prohibit
remittances by United States persons to Panamanian persons other than the
Noriega/Solis regime.
Sec. 5. This Order shall take effect at
Sec. 6. The Secretary of the Treasury, in
consultation with the Secretary of State, is authorized to take such actions,
including the promulgation of rules and regulations, and to employ all powers
granted to me by the International Emergency Economic Powers Act, as may be
necessary to carry out the purposes of this Order. The Secretary of the
Treasury may redelegate any of these functions to
other officers or agencies of the Federal Government.
Sec. 7. Nothing contained in this Order shall
confer any substantive or procedural right or privilege on any person or
organization, enforceable against the
This
Order shall be transmitted to the Congress and published in the Federal
Register.
Ronald
Reagan
The
White House,
[Filed with the Office
of the Federal Register,
Note: The Executive
order was printed in the ``Federal Register'' of April 12.