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[House Document 109-28]
[From the U.S. Government Publishing Office]

109th Congress, 1st Session - - - - - - - - - - - - House Document 109-28
 
   CONTINUATION OF NATIONAL EMERGENCY WITH RESPECT TO PROTECTING THE 
                   DEVELOPMENT FUND FOR IRAQ, ET AL.

                               __________

                                MESSAGE

                                  from

                   THE PRESIDENT OF THE UNITED STATES

                              transmitting

NOTIFICATION THAT THE NATIONAL EMERGENCY WITH RESPECT TO PROTECTING THE 
DEVELOPMENT FUND FOR IRAQ AND CERTAIN OTHER PROPERTY IN WHICH IRAQ HAS 
 AN INTEREST, ORIGINALLY DECLARED IN EXECUTIVE ORDER 13303 OF MAY 22, 
2003, AS EXPANDED IN SCOPE BY EXECUTIVE ORDER 13315 OF AUGUST 28, 2003, 
    MODIFIED IN EXECUTIVE ORDER 13350 OF JULY 29, 2004, AND FURTHER 
MODIFIED IN EXECUTIVE ORDER 13364 OF NOVEMBER 29, 2004, IS TO CONTINUE 
      IN EFFECT BEYOND MAY 22, 2005, PURSUANT TO 50 U.S.C. 1622(d)

    May 23, 2005.--Message and accompanying papers referred to the 
     Committee on International Relations and ordered to be printed
To the Congress of the United States:
    Section 202(d) of the National Emergencies Act (50 U.S.C. 
1622(d)) provides for the automatic termination of a national 
emergency unless, prior to the anniversary date of its 
declaration, the President publishes in the Federal Register 
and transmits to the Congress a notice stating that the 
emergency is to continue in effect beyond the anniversary date. 
In accordance with this provision, I have sent the enclosed 
notice to the Federal Register for publication. This notice 
states that the national emergency declared in Executive Order 
13303 of May 22, 2003, as expanded in scope by Executive Order 
13315 of August 28, 2003, modified in Executive Order 13350 of 
July 29, 2004, and further modified in Executive Order 13364 of 
November 29, 2004, is to continue in effect beyond May 22, 
2005. The most recent notice continuing this emergency was 
published in the Federal Register on May 21, 2004 (69 FR 
29409).
    The threats of attachment or other judicial process against 
(i) the Development Fund for Iraq, (ii) Iraqi petroleum and 
petroleum products, and interests therein, and proceeds, 
obligations, or any financial instruments of any nature 
whatsoever arising from or related to the sale or marketing 
thereof, or (iii) any accounts, assets, investments, or any 
other property of any kind owned by, belonging to, or held by, 
on behalf of, or otherwise for the Central Bank of Iraq create 
obstacles to the orderly reconstruction of Iraq, the 
restoration and maintenance of peace and security in the 
country, and the development of political, administrative, and 
economic institutions in Iraq. Accordingly, these obstacles 
continue to pose an unusual and extraordinary threat to the 
national security and foreign policy of the United States. For 
these reasons, I have determined, that it is necessary to 
continue the national emergency protecting the Development Fund 
for Iraq, certain other property in which Iraq has an interest, 
and the Central Bank of Iraq, and to maintain in force the 
sanctions to respond to this threat.

                                                    George W. Bush.
    The White House, May 19, 2005.
                                 Notice

                              ----------                              

Continuation of the National Emergency Protecting the Development Fund 
   for Iraq and Certain Other Property in Which Iraq Has an Interest

    On May 22, 2003, by Executive Order 13303, I declared a 
national emergency protecting the Development Fund for Iraq and 
certain other property in which Iraq has an interest, pursuant 
to the International Emergency Economic Powers Act (50 U.S.C. 
1701-1706) (IEEPA). I took this action to deal with the unusual 
and extraordinary threat to the national security and foreign 
policy of the United States posed by the obstacles to the 
orderly reconstruction of Iraq, the restoration and maintenance 
of peace and security in the country, and the development of 
political, administrative, and economic institutions in Iraq 
constituted by the threat of attachment or other judicial 
process against the Development Fund for Iraq, Iraqi petroleum 
and petroleum products, and interests therein, and proceeds, 
obligations, or any financial instruments of any nature 
whatsoever arising from or related to the sale or marketing 
thereof.
    On August 28, 2003, in Executive Order 13315, I expanded 
the scope of this national emergency to block the property of 
the former Iraqi regime, its senior officials and their family 
members as the removal of Iraqi property from that country by 
certain senior officials of the former Iraqi regime and their 
immediate family members constitutes an obstacle to the orderly 
reconstruction of Iraq, the restoration and maintenance of 
peace and security in the country, and the development of 
political, administrative, and economic institutions in Iraq.
    On July 29, 2004, in Executive Order 13350, I amended the 
Annex to Executive Order 13315 to include certain persons 
determined to have been subject to economic sanctions pursuant 
to Executive Orders 12722 and 12724. Because of their 
association with the prior Iraqi regime, I determined that 
these persons present an obstacle to the orderly reconstruction 
of Iraq, the restoration and maintenance of peace and security 
in that country, and the development of political, 
administrative, and economic institutions in Iraq and, 
therefore, such persons should be subject to sanctions under 
Executive Order 13315.
    Executive Order 13350 also amended Executive Order 13290 of 
March 20, 2003, in which, consistent with section 203(a)(1)(C) 
of IEEPA, 50 U.S.C. 1702(a)(1)(C), I ordered that certain 
blocked funds held in the United States in accounts in the name 
of the Government of Iraq, the Central Bank of Iraq, Rafidain 
Bank, Rasheed Bank, or the State Organization for Marketing Oil 
be confiscated and vested in the Department of the Treasury. I 
originally exercised these authorities pursuant to Executive 
Order 12722. In light of the changed circumstances in Iraq and 
my decision to terminate the national emergency declaredin 
Executive Order 12722, I determined that the exercise of authorities in 
Executive Order 13290 should continue in order to address the national 
emergency declared in Executive Order 13303 of May 22, 2003, as 
expanded in scope in Executive Order 13315 of August 28, 2003, 
regarding the obstacles posed to the orderly reconstruction of Iraq. 
Executive Order 13350 amends Executive Order 13290 to that effect.
    On November 29, 2004, in Executive Order 13364, I modified 
the scope of this national emergency to address the unusual and 
extraordinary threat to the national security and foreign 
policy of the United States posed by the threat of attachment 
or other judicial process against the Central Bank of Iraq. I 
also determined that, consistent with United Nations Security 
Council Resolutions 1483 and 1546, the steps taken in Executive 
Order 13303 to deal with this national emergency need to be 
limited so that such steps do not apply with respect to any 
final judgment arising out of a contractual obligation entered 
into by the Government of Iraq, including any agency or 
instrumentality thereof, after June 30, 2004, and so that, with 
respect to Iraqi petroleum and petroleum products and interests 
therein, such steps shall apply only until title passes to the 
initial purchaser.
    Because the obstacles to the orderly reconstruction of 
Iraq, the restoration and maintenance of peace and security in 
the country, and the development of political, administrative, 
and economic institutions in Iraq continue to pose an unusual 
and extraordinary threat to the national security and foreign 
policy of the United States, the national emergency declared on 
May 22, 2003, and the measures adopted on that date, August 28, 
2003, July 29, 2004, and November 29, 2004, to deal with that 
emergency must continue in effect beyond May 22, 2005. 
Therefore, in accordance with section 202(d) of the National 
Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year 
the national emergency protecting the Development Fund for Iraq 
and certain other property in which Iraq has an interest.
    This notice shall be published in the Federal Register and 
transmitted to the Congress.
                                                    George W. Bush.
    The White House, May 19, 2005.

                                  
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