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Great Seal U.S. and Allied Wartime and Postwar Relations and Negotiations With Argentina, Portugal, Spain, Sweden, and Turkey on Looted Gold and German External Assets and U.S. Concerns About the Fate of the Wartime Ustasha Treasury

June 1998 Supplement to Preliminary Study on U.S. and Allied Efforts To Recover and Restore Gold and other Assets Stolen or Hidden by Germany During World War II

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Special Briefing by Under Secretary Stuart Eizenstat upon release of the report.

This report appears on this website as a series of PDF files listed below. For more information about viewing these files in PDF format, click here.

The Report Summary is available as an HTML file on this site, and the complete text in HTML format is available on the United States Information Agency site. Printed copies of the complete report are available through the U.S. Government Printing Office. To fax an order, call (202) 512-2250; to phone an order, call (202) 512-1800. The Stock Number for the report is 044-000-02494-2.

Also, an updated and searchable Finding Aid to Records at the National Archives at College Park is available at http://www.ushmm.org/assets/nazigold.htm




Glossary of Terms

Note on Neutrality

Report Summary

Tables and Charts

  • List of Agreements, Declarations, and Negotiations
  • Sources of Contributions to the $25 Million Paris Reparation Fund
  • Tripartite Gold Commission
  • German External Assets and Monetary Gold in Foreign Countries
Tables and Charts (continued)
  • Summary of German External Assets and Monetary Gold in Foreign Countries
  • Timeline of Trade, Belligerency, and Postwar Gold and Asset Negotiations and Agreements
  • Neutral Countries' Supply of Germany's Major Resources
Allied Relations and Negotiations With Argentina
     A. The Beginnings of Argentina's Neutrality
     B. U.S. and Allied Policies Toward Argentine Neutrality
     C. Argentina As a Center for Axis Smuggling
     D. U.S. and Allied Wartime Policies Toward Argentina's Trade With Germany
     E. The Safehaven Investigation in Argentina
     F. The Argentine Blue Book
     G. The Findings of the Safehaven Investigation in Argentina
     H. Argentine Gold Transactions and the Question of Looted Gold
     I. U.S. Purchases of Argentine Gold

Allied Relations and Negotiations With Portugal
     A. Portugal's Neutrality and Expanded Wartime Economy
     B. Portuguese Wartime Trade in Wolfram
     C. Allied Competition With Germany for Portuguese Wolfram,1941-1942
     D. Allied Attempts To Deny Portuguese Wolfram to Germany,1942-1943
     E. Cessation of Portuguese Wolfram Exports, June 1944
     F. The Beginnings of Safehaven in Portugal
     G. Allied Estimates of German External Assets in Portugal
     H. Beginnings of Postwar Allied Policy Toward German Looted Gold in Portugal
     I. Allied-Portuguese Negotiations on Looted Gold and German External Assets, September 1946-February 1947
     J. Further Allied-Portuguese Gold Negotiations, March 1947- February 1948
     K. U.S.-Portuguese Agreement on the Azores, February 1948
     L. Portuguese Assets in the United States
     M. Continued Efforts at an Allied-Portuguese Agreement
     N. Frustrated Efforts at a Settlement, 1949-1952
     O. Negotiation of a Final Agreement, 1952-1958

Allied Relations and Negotiations With Spain
     A. From Spanish "Non-Belligerency" to Spanish Neutrality
     B. Spain's Wartime Trade With the Axis
     C. Allied Efforts To Limit Spain's Trade With Germany
     D. Allied Competition With Germany for Spain's Wolfram, 1941-1942
     E. The Spanish-German Secret Trade Agreement and the Allied Oil Embargo, 1943-1944
     F. The Safehaven Program in Spain
     G. First Allied Approaches to Spain, 1944-1945
     H. Early Allied Efforts To Control German Assets in Spain
     I. Estimates of German Looted Gold Acquired by Spain
     J. Initial Negotiations on the Restitution of Looted Gold, 1946-1947
     K. Negotiations on German External Assets in Spain, 1946-1947
     L. International Background to the Allied-Spanish Negotiations
     M. Allied-Spanish Accord on German External Assets, May 1948
     N. Allied-Spanish Agreement on Looted Gold
     O. Implementation and Final Settlement of the Allied-Spanish Accord on External German Assets, 1948-1959

Allied Relations and Negotiations With Sweden
     A. The Allies and Sweden's Wartime Neutrality
     B. Allied Negotiations With Sweden To Halt Swedish Wartime Exports and Concessions to Nazi Germany
     C. Sweden's Cessation of Trade With Germany
     D. Sweden and the Safehaven Program
     E. Preparation for the Postwar Allied-Swedish Negotiations on Looted Gold and German External Assets
     F. Allied-Swedish Negotiations in Washington, May-July 1946
     G. Evaluation of the Allied-Swedish Agreement of July 18, 1946
     H. Implementation of the Allied-Swedish Accord of July 1946
     I. Swedish Restitution of Looted Monetary Gold
     J. U.S. Attitude Toward Sweden's Postwar Neutrality

Allied Relations and Negotiations With Turkey
     A. Turkey's Neutrality in World War II
     B. High-Level Allied Discussion of Turkish Neutrality
     C. Allied Failure To Bring Turkey Into the War in 1944
     D. The Economic Side of Turkish Neutrality
     E. Allied Economic Policies Toward Neutral Turkey; Preclusive Trade and Military Assistance
     F. U.S. Participation in the Preclusive Purchasing Program of Turkish Chromite and Other Commodities
     G. Turkish Cessation of Trade With Germany, April 1944
     H. Turkish Severance of Relations With Germany and Declaration of War, 1944-1945
     I. Turkey's Wartime Trade in German Looted Gold
     J. Allied Attempts To Implement a Safehaven Program in Turkey
     K. Attempts at a Postwar Allied-Turkish Agreement on Restitution and Reparation of Looted Gold and German External Assets
     L. U.S.-Turkish Relations: From "Live and Let Live" to the Truman Doctrine
     M. Failure To Reach Agreements With Turkey on Restitution of Gold and German External Assets, 1947-1953

The Fate of the Wartime Ustasha Treasury
     A. Establishment of the Wartime Croatian Ustasha Regime
     B. The Ustasha Treasury and Its Move to Switzerland
     C. The Ustasha Gold in British-Occupied Austria
     D. The Ustasha Underground in Rome and Ustasha Gold
     E. Postwar Changes in U.S. Policy Toward Croatian Ustasha War Criminals and Escapees
     F. Tracking the Fate of the Wartime Ustasha Treasury

Annex I: New Information About Victim-Origin Gold at the Reichsbank

Annex II: Summary of the May 1997 Preliminary Report

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