U.S. Initiates Sanctions against bin Laden and Associates

On September 24, 2001, President George W. Bush issued an executive order that immediately freezes U.S. financial assets of and prohibits U.S. transactions with 27 different entities. They include terrorist organizations, individual terrorist leaders, a corporation that serves as a front for terrorism, and several nonprofit organizations. This article discusses the legal framework and aspects of the order and the responses and implications for foreign governments and financial institutions.