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Remaining Economic Sanctions Against Liberian Entities Lifted

Tuesday, November 17, 2015
Sandler, Travis & Rosenberg Trade Report

Effective Nov. 12, President Obama has terminated a national emergency declared in 2004 with respect to the actions and policies of former Liberian president Charles Taylor and revoked Executive Order 13348 declaring that emergency, thus lifting the economic sanctions imposed under that order against 18 individuals and 30 entities.

In a letter to congressional leaders, Obama said that the emergency was declared to deal with the unusual and extraordinary threat to U.S. foreign policy posed by the unlawful depletion of Liberian resources by Taylor and his associates and their removal from Liberia and secreting of Liberian funds and property. However, the president added that the situation that gave rise to this emergency has been significantly altered by Liberia’s advances to promote democracy and the orderly development of its political, administrative and economic institutions since emerging from civil war in 2003. These advancements include presidential elections in 2005 and 2011 that were internationally recognized as freely held, the conviction of Taylor and the imposition of a 50-year prison sentence on him, the diminished ability of those connected to Taylor to undermine Liberia's progress, and the United Nations Security Council's termination of asset freeze obligations on Sept. 2, 2015.

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