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United States · Law · S

S. 2532 (102nd)

FREEDOM Support Act

enactedUnited States· United States Congress· EN

Introduced

7 April 1992

Last action

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Status

Became Public Law No: 102-511.

Sponsors

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Subjects

Discovery layer

Source updated

14 January 2025

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Summary

Freedom for Russia and Emerging Eurasian Democracies and Open Markets Support Act of 1992 - Declares that the President, in providing assistance for the independent states of the former Soviet Union (independent states), should take into account the extent to which such states are taking steps toward: (1) establishment of democratic systems; (2) respect for human rights; (3) economic reform based on market principles, the development of a private sector, and integration into the world economy; (4) respect for international law and adherence to the principles of the Helsinki Final Act and the Charter of Paris; and (5) adherence to responsible security policies. Permits funds authorized to be appropriated by this Act to be available for such states (except for Estonia, Latvia, and Lithuania) for purposes of promoting democracy, encouraging free market systems, meeting humanitarian needs, fostering demilitarization of the economy and society and defense conversion, promoting development in agricultural and energy sectors, promoting bilateral trade and investment, and for other purposes as the President deems appropriate. Authorizes the President to promote the active involvement of the U.S. private sector in activities in the former Soviet Union. Authorizes appropriations. Permits the President to use funds made available to carry out the Foreign Assistance Act of 1961 for the independent states. Authorizes authorities under the Support for East European Democracy (SEED) Act of 1989 to be utilized to take actions with respect to such states. Authorizes the use of funds made available under specified Acts to carry out demilitarization and conversion of industries in such states, to prevent diversion of scientific expertise to terrorist groups or third countries, and to implement specified safeguards regarding nuclear weapons. Amends the Bretton Woods Agreements Act to endorse consent to: (1) an increase in the U.S. quota of the International Monetary Fund and to the amendments to the Articles of Agreement of the Fund approved in resolution number 45-3; and (2) a pledge to sell gold to restore the resources of the Reserve Account of the Enhanced Structural Adjustment Facility Trust. Supports U.S. participation in a currency stabilization fund for the independent states. Expresses the sense of the Congress that the President should ensure that the International Finance Corporation provides an ambitious lending program for such states. Endorses any increase of capital stock in the Corporation needed to accommodate the requirements of such states. Expresses the sense of the Congress that: (1) efforts to reduce the number of items the export of which is restricted under Coordinating Committee on Multilateral Export Controls (COCOM) procedures should be continued to facilitate trade and investment between the United States and such states; and (2) the President should initiate negotiations for the establishment of a center in Ukraine for purposes of promoting science and technology projects for nonmilitary purposes. Amends the Foreign Assistance Act of 1961 to remove Czechoslovakia, Estonia, East Germany, Hungary, Latvia, Lithuania, Albania, Bulgaria, Poland, Yugoslavia, Romania, and the Soviet Union from the list of Communist countries to which assistance is prohibited. Makes a conforming amendment to the Export-Import Bank Act of 1945 to remove prohibitions on export credit with respect to such countries. Amends the Federal criminal code to remove the Soviet Union, East Germany, Hungary, Czechoslovakia, Poland, Bulgaria, and Romania from a list of countries for which special restrictions apply with respect to legal commercial transactions. Authorizes the President to waive the application of any provision of law to the independent states that would have restricted the Soviet Union's eligibility for certain programs or benefits. Amends the Foreign Assistance Act of 1961 to authorize the Overseas Private Investment Corporation to carry out its pilot equity financing program in the independent states. Amends the Food Security Act of 1985 to authorize agricultural commodities to be furnished to such states. Amends the Food, Agriculture, Conservation, and Trade Act of 1990 to permit export credit guaranties for improving services and agricultural goods and materials in emerging democracies to improve the management of imported agricultural commodities. Makes certain ceilings of the Food Security Act of 1985 and the Agricultural Trade Development and Assistance Act of 1954 inapplicable to the independent states. Authorizes the President to exempt any of such states from statutory or regulatory restrictions on the importation of goods and services into the United States to the extent that such restrictions are more stringent than restrictions applicable to like goods and services of other friendly countries. Expresses the sense of the Congress that the President should utilize international military education and training funds to provide education and training designed to foster greater respect for and understanding of the principle of civilian control of the military in the independent states.

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11 official files

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