Presidential Documents

Federal Register / Vol. 69, No. 231 / Thursday, December 2, 2004 / Presidential Documents 70177

Executive Order 13364 of November 29, 2004

Modifying the Protection Granted to the Development Fund 

for Iraq and Certain Property in Which Iraq Has an Interest 

and Protecting the Central Bank of Iraq 

By the authority vested in me as President by the Constitution and the 

laws of the United States of America, including the International Emergency 

Economic Powers Act, as amended (50 U.S.C. 1701 et seq.) (IEEPA), the 

National Emergencies Act (50 U.S.C. 1601 et seq.), section 5 of the United 

Nations Participation Act, as amended (22 U.S.C. 287c) (UNPA), and section 

301 of title 3, United States Code, 

I, GEORGE W. BUSH, President of the United States of America, hereby 

modify the scope of the national emergency declared in Executive Order 

13303 of May 22, 2003, and expanded in Executive Order 13315 of August 

28, 2003, and further modified in Executive Order 13350 of July 29, 2004, 

to address the unusual and extraordinary threat to the national security 

and foreign policy of the United States posed by obstacles 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. I find that the threat of attachment or other 

judicial process against the Central Bank of Iraq constitutes one of these 

obstacles. I further determine that, consistent with United Nations Security 

Council Resolutions 1483 of May 22, 2003, and 1546 of June 8, 2004, 

the steps taken in Executive Order 13303 to deal with the national emergency 

declared therein 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. 

I hereby order: 

Section 1. Section 1 of Executive Order 13303 is hereby amended to read 

as follows: 

‘‘Section 1. (a) Except as provided in section 1(b) of this order, 

and unless licensed or otherwise authorized pursuant to this order, 

any attachment, judgment, decree, lien, execution, garnishment, or 

other judicial process is prohibited and shall be deemed null and 

void with respect to the following:

(i) the Development Fund for Iraq; 

(ii) all Iraqi petroleum and petroleum products, and interests 

therein, but only until title passes to the initial purchaser, 

and proceeds, obligations, or any financial instruments of 

any nature whatsoever arising from or related to the sale or 

marketing thereof, and interests therein, in which any foreign country or a national thereof has any interest, that are 

in the United States, that hereafter come within the United 

States, or that are or hereafter come within the possession 

or control of United States persons; and 

70178 Federal Register / Vol. 69, No. 231 / Thursday, December 2, 2004 / Presidential Documents 

(iii) any accounts, assets, investments, or any other property of 

any kind owned by, belonging to, or held by the Central 

Bank of Iraq, or held, maintained, or otherwise controlled 

by any financial institution of any kind in the name of, on 

behalf of, or otherwise for the Central Bank of Iraq.

(b) The prohibition in section 1(a) of this order shall 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.’’

Sec. 2. (a) The Secretary of the Treasury, in consultation with the Secretary 

of State, is hereby authorized to take such actions, including the promulgation 

of rules and regulations, and to employ all powers granted to the President 

by IEEPA and the UNPA as may be necessary to carry out the purposes 

of this order. The Secretary of the Treasury may redelegate any of these 

functions to other officers and agencies of the United States Government 

consistent with applicable law. All agencies of the United States Government 

are hereby directed to take all appropriate measures within their authority 

to carry out the provisions of this order. 

(b) Nothing contained in this order shall relieve a person from any requirement to obtain a license or other authorization in compliance with applicable 

laws and regulations. 

Sec. 3. This order is not intended to, and does not, create any right, benefit, 

or privilege, substantive or procedural, enforceable at law or in equity by 

a party against the United States, its departments, agencies, entities, officers, 

employees, or agents, or any other person. 

Sec. 4. This order shall be transmitted to the Congress and published in 

the Federal Register

W.

THE WHITE HOUSE, 

November 29, 2004. 

[FR Doc. 04–26686

Filed 12–1–04; 9:47 am] 

Billing code 3195–01–P