U.S. Freezes Assets of All Haitians
President Clinton ordered U.S. financial institutions Wednesday to freeze assets of all Haitians residing in Haiti, widening an economic stranglehold once limited to military leaders.
Clinton signed the executive order late Tuesday. It was transmitted to banks and other institutions before the business day began. Sealing off bank accounts is part of Clinton’s plan to force military leaders to reinstate ousted President Jean-Bertrand Aristide.
Clinton has not ruled out a military strike, but U.S. officials fear that it would be difficult to extract U.S. troops from the nation even after a successful invasion.
About 600 military leaders and their supporters were barred earlier this month from access to their money in U.S. bank accounts. And Clinton previously barred all financial transactions between the United States and Haiti.
But there was a loophole for Haitians not in the military: They could transfer their money to a non-American bank and reclaim it.
The freeze--which forbids transfers, withdrawals and any other transactions--applies to all deposits in foreign and domestic branches of American banks.
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