Executive Order 8484
Order 8389, issued on April 10, 1940, had frozen Norwegian and Danish financial assets held in the U.S., following their occupation by Nazi Germany during World War II. Order 8484 extended the same protection to the assets of Estonia, Latvia, and Lithuania after their occupation and annexation by the Soviet Union.
Text of Order
By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917 (40 Stat.411, as amended), and by virtue of all other authority vested in me, I, FRANKLIN D. ROOSEVELT, PRESIDENT OF THE UNITED STATES OF AMERICA, do hereby amend Executive Order No. 8389, as amended, so to extend all the provisions thereof, and with respect to, property in which Latvia, Estonia, or Lithuania or any national thereof has at any time on or since July 10, 1940, had any interest or any nature whatsoever, direct or indirect.
The Soviet government condemned the freezing of the Baltic states' assets, asserting that there was no legal basis for suspending the transfer.:35 Sumner Welles, acting Secretary of State, addressed the objection in a statement:
The attempt to transfer the gold belonging to the Banks of Lithuania, Latvia, and Estonia was made at a time when it had become apparent that the governments and peoples of those countries were being deprived of freedom of action by foreign troops which had entered their territories by force or threats of force.:35
- John Hiden, Vahur Made, David J. Smith, editors (2008). The Baltic question during the Cold War. Routledge. ISBN 978-0-415-37100-1.CS1 maint: multiple names: authors list (link) CS1 maint: extra text: authors list (link)
- "Franklin D. Roosevelt - 1940". Federal Register. Retrieved 2009-05-11.
- "Recognizing the 60th anniversary of the United States nonrecognition policy of the Soviet takeover of Estonia, Latvia, and Lithuania and calling for positive steps to promote a peaceful and democratic future for the Baltic region". Embassy of the United States - Estonia. Archived from the original on July 3, 2008. Retrieved 2009-05-11.
Whereas on July 15, 1940, President Franklin D. Roosevelt issued Executive Order No. 8484, which froze Baltic assets in the United States to prevent them from falling into Soviet hands
- Hiden, John; Vahur Made; David J. Smith (2008). The Baltic question during the Cold War. Routledge. p. 209. ISBN 0-415-37100-7.