International Emergency Economic Powers Act
PL 95-223 (H.R.7738), enacted 12/28/1977

PUBLIC LAW 95-223—DEC. 28, 1977 
91 STAT. 1625 
Public Law 95-223 
95th Congress 
An Act 
With respect to the powers of the President in time of war or national emergency. 
Be it enacted hy the Senate arul House of Representatives of the 
United States of ATnerica in Congress assembled^ 
TITLE I—AMENDMENTS TO THE TRADING WITH THE 
ENEMY ACT 
REMOVAL OF NATIONAL EMERGENCY POWERS UNDER THE TRADING WITH 
THE ENEMY ACT 
SEC. 101. (a) Section 5(b) (1) of tlie Trading With the Enemy Act 
is amended by striking out "or during any other period of national 
emergency declared by the President" in the text preceding subpara-
graph (A). 
(b) Notwithstanding the amendment made by subsection (a), the 
authorities conferred upon the President by section 5(b) of the Trad-
ing With the Enemy Act, which were being exercised with respect 
to a country on July 1, 1977, as a result of a national emergency 
declared by the President before such date, may continue to be exercised 
with respect to such country, except that, unless extended, the exercise 
of such authorities shall terminate (subject to the savings provi-
sions of the second sentence of section 101(a) of the National Emer-
gencies Act) at the end of the two-year period beginning on the date 
of enactment of the National Emergencies Act. The President may 
extend the exercise of such authorities for one-year periods upon a 
determination for each such extension that the exercise of such 
authorities with respect to such country for another year is in the 
national interest of the United States. 
(c) The termination and extension provisions of subsection (b) 
of this section supersede the provisions of section 101(a) and of title 
II of the National Emergencies Act to the extent that the provisions 
of subsection (b) of this section are inconsistent with those provisions. 
(d) Paragraph (1) of section 502(a) of the National Emergencies 
Act is repealed. 
WARTIME 
AUTHORITIES 
SEC. 102. Section 5(b) (1) of the Trading With the Enemy Act is 
amended— 
(1) in the text preceding subparagraph (A), by striking out 
"or otherwise," the first time it appears; and 
(2) by striking out "; and the President may, in the manner 
hereinabove provided, take other and further measures not incon-
sistent herewith for the enforcement of this subdivision". 
Dec. 28, 1977 
[H.R. 7738] 
Wartime or 
national 
emergencies. 
Presidential 
powers. 
50 u s e app. 5. 
Termination or 
extension, 
effective date. 
50 u s e app. 5 
note. 
50 u s e 1601. 
50 u s e 1601 
note. 
50 u s e 1621. 
Repeal. 
50 u s e 1651. 
Supra. 
91 STAT. 1626 
PUBLIC LAW 95-223—DEC. 28, 1977 
50 use app. 16. 
SEC. 103. (a) Section 16 of the Trading With the Enemj^ Act is 
amended by striking out "$10,000" and inserting in lieu thereof 
"$50,000". 
50 use app. 5. 
(b) Section 5(b) (3) of such Act is amended by striking out the 
second sentence. 
International 
Emergency 
Economic Powers 
Act. 
TITLE II—INTERNATIONAL EMERGENCY ECONOMIC 
POWERS 
SHORT TITLE 
50 use 1701 
SEC. 201. This title may be cited as the "International Emergency 
note- 
Economic Powers Act". 
Unusual and 
extraordinary 
threat. 
Presidential 
declaration of 
national 
emergency. 
50 use 1701. 
50 use 1702. 
Records, 
maintenance and 
availability. 
SITUATIONS IN WHICH AUTHORITIES MAY BE EXERCISED 
SEC. 202. (a) Any authority granted to the President by section 
203 may be exercised to deal with any unusual and extraordinary 
threat, which has its source in whole or substantial part outside the 
United States, to the national security, foreign policy, or economy of 
the United States, if the President declares a national emergency with 
respect to such threat. 
(b) The authorities granted to the President by section 203 may 
only be exercised to deal with an unusual and extraordinary threat 
with respect to which a national emergency has been declared for pur-
poses of this title and may not be exercised for any other purpose. 
Any exercise of such authorities to deal with any new threat shall be 
based on a new declaration of national emergency which must be with 
respect to such threat. 
GRANT OF AUTHORITIES 
SEC. 203. (a) (1) At the times and to the extent specified in section 
202, the President may, under such regulations as he may prescribe, 
by means of instructions, licenses, or otherwise— 
(A) investigate, regulate, or prohibit— 
(i) any transactions in foreign exchange, 
(ii) transfers of credit or payments between, by, through, 
or to any banking institution, to the extent that such transfers 
or payments involve any interest of any foreign country or 
a national thereof, 
(iii) the importing or exporting of currency or securities; 
and 
(B) investigate, regulate, direct and compel, nullify, void, 
prevent or prohibit, any acquisition, holding, withholding, use, 
transfer, withdrawal, transportation, importation or exportation 
of, or dealing in, or exercising any right, power, or privilege with 
respect to, or transactions involving, any property in which any 
foreign country or a national thereof has any interest; 
by any person, or with respect to any property, subject to the jurisdic-
tion of the United States. 
(2) In exercising the authorities granted by paragraph (1), the 
President may require any person to keep a full record of, and to 
furnish under oath, in the form of reports or otherwise, complete 
information relative to any act or transaction referred to in paragraph 
(1) either before, during, or after the completion thereof, or relative 
PUBLIC LAW 95-223—DEC. 28, 1977 
91 STAT. 1627 
to any interest in foreign property, or relative to any property in 
which any foreign country or any national thereof has or has had any 
interest, or as may be otherwise necessary to enforce the provisions of 
such paragraph. In any case in which a report by a person could be 
required under this paragraph, the President may require the pro-
duction of any books of account, records, contracts, letters, memo- 
: 
randa, or other papers, in the custody or control of such person. 
(3) Compliance with any regulation, instruction, or direction issued Liability, 
under this title shall to the extent thereof be a full acquittance and 
discharge for all purposes of the obligation of the person making the 
same. No person shall be held liable in any court for or with respect 
to anything done or omitted in good faith in connection with the 
administration of, or pursuant to and in reliance on, this title, or any 
regulation, instruction, or direction issued under this title. 
(b) The authority granted to the President by this section does not 
include the authority to regulate or prohibit, directly or indirectly— 
(1) any postal, telegraphic, telephonic, or other personal com-
munication, which does not involve a transfer of anything of 
value; or 
(2) donations, by persons subject to the jurisdiction of the 
United States, of articles, such as food, clothing, and medicine, 
intended to be used to relieve human suffering, except to the extent 
that the President determines that such donations (A) would 
seriously impair his ability to deal with any national emergency 
declared under section 202 of this title, (B) are in response to 
coercion against the proposed recipient or donor, or (C) would 
endanger Armed Forces of the United States which are engaged 
in hostilities or are in a situation where imminent involvement in 
hostilities is clearly indicated by the circumstances. 
CONSTJLTATIOJJ' AND REPORTS 
SEC. 204. (a) The President, in every possible instance, shall consult 50 USC 1703. 
with the Congress before exercising any of the authorities granted by 
this title and shall consult regularly with the Congress so long as such 
authorities are exercised. 
(b) Whenever the President exercises any of the authorities granted 
by this title, he shall immediately transmit to the Congress a report 
specifying— 
(1) the circumstances which necessitate such exercise of author-
ity; 
(2) why the President believes those circumstances constitute 
an unusual and extraordinary threat, which has its source in 
whole or substantial part outside the United States, to the 
national security, foreign policy, or economy of the United 
States; 
(3) the authorities to be exercised and the actions to be taken 
in the exercise of those authorities to deal with those circum-
stances ; 
(4) why the President believes such actions are necessary to deal 
with those circumstances; and 
(5) any foreign countries with respect to which such actions are 
to be taken and why such actions are to be taken with respect to 
those countries. 
(c) At least once during each succeeding six-month period after 
transmitting a report pursuant to subsection (b) with respect to an 
' 
exercise of authorities under this title, the President shall report to the 
91 STAT. 1628 
PUBLIC LAW 95-223—DEC. 28, 1977 
Congress with respect to the actions taken, since the last such report, 
in the exercise of such authorities, and with respect to any changes 
which have occurred concerning any information previously furnished 
pursuant to paragraphs (1) through (5) of subsection (b). 
(d) The requirements of this section are supplemental to those con-
50 use 1641. 
tained in title IV of the National Emergencies Act. 
AUTHORITY TO ISSUE REGULATIONS 
50 use 1704. 
SEC. 205. The President may issue such regulations, including regu-
lations prescribing definitions, as may be necessary for the exercise of 
the authorities granted by this title. 
PENALTIES 
50 use 1705. 
SEC. 206. (a) A civil penalty of not to exceed $10,000 may be 
imposed on any person who violates any license, order, or regulation 
issued under this title. 
(b) Whoever willfully violates any license, order, or regulation 
issued imder this title shall, upon conviction, be fined not more than 
$50,000, or, if a natural person, may be imprisoned for not more than 
ten years, or both; and any officer, director, or agent of any corporation 
who knowingly participates in such violation may be punished by a 
like fine, imprisonment, or both. 
.: 
SAVINGS 
PROVISION 
50 use 1706. 
SEC. 207. (a)(1) Except as provided in subsection (b), notwith-
50 use 1601 
standing the termination pursuant to the National Emergencies Act 
"°*^" 
of a national emergency declared for purposes of this title, any 
authorities granted by this title, which are exercised on the date of 
such termination on the basis of such national emergency to prohibit 
J 
} „ 
transactions involving property in which a foreign country or national 
thereof has any interest, may continue to be so exercised to prohibit 
transactions involving that property if the President determines that 
the continuation of such prohibition with respect to that property is 
necessary on account of claims involving such country or its nationals. 
(2) Notwithstanding the termination of the authorities described 
in section 101 (b) of this Act, any such authorities, which are exercised 
with respect to a country on the date of such termination to prohibit 
transactions involving any property in which such country or any 
national thereof has any interest, may continue to be exercised to pro-
hibit transactions involving that property if the President determines 
that the continuation of such prohibition with respect to that property 
is necessary on account of claims involving such country or its 
nationals. 
(b) The authorities described in subsection (a) (1) may not con-
tinue to be exercised under this section if the national emergency is 
terminated by the Congress by concurrent resolution pursuant to sec-
50 use 1622. 
tion 202 of the National Emergencies Act and if the Congress specifies 
in such concurrent resolution that such authorities may not continue 
to be exercised under this section. 
(c) (1) The provisions of this section are supplemental to tlie savings 
provisions of paragraphs (1), (2), and (3) of section 101(a) and of 
paragraphs (A), (B), and (C) of section 202(a) of the National 
50 use 1601. 
Emergencies Act. 
PUBLIC LAW 95-223—DEC. 28, 1977 
91 STAT. 1629 
(2) The provisions of this section supersede the termination provi-
sions of section 101(a) and of title II of the National Emergencies 
Act to the extent that the provisions of this section are inconsistent 
with these provisions. 
(d) If the President uses the authority of this section to continue 
prohibitions on transactions involving foreign property interests, he 
shall report to the Congress every six months on the use of such 
authority. 
SEC. 208. If any provision of this Act is held invalid, the remainder 
of the Act shall not be aifected thereby. 
TITLE 
III—AMENDMENTS TO THE EXPORT 
ADMINISTRATION ACT OF 1969 
AUTHORITY TO REGULATE EXTRATERRITORIAL EXPORTS 
SEC. 301. (a) The first sentence of section 4(b) (1) of the Export 
Administration Act of 1969 is amended to read as follows: "To 
effectuate the policies set forth in section 3 of this Act, the President 
may prohibit or curtail the exportation, except under such rules and 
regulations as he shall prescribe, of any articles, materials, or sup-
plies, including technical data or any other information, subject to 
the jurisdiction of the United States or exported by any person sub-
ject to the jurisdiction of the United States.". 
(b) (1) Section 4(b) (2) (B) of such Act is amended— 
(A) in the first sentence, by striking out "from the United 
States, its territories and possessions,"; and 
(B) in the second sentence— 
(i) by striking out "from the United States"; and 
(ii) by striking out "produced in the United States" and 
inserting in lieu thereof "which would be subject to such 
controls". 
(2) Section 6(c) (2) (A) of such Act is amended by striking out 
"from the United States, its territories or possessions,". 
Approved December 28, 1977. 
50 u s e 1601, 
1621. 
Report to 
Congress. 
Severability. 
50 u s e 1701 
note. 
50 u s e app. 
2403. 
50 u s e app. 
2402. 
50 u s e app. 
2405. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 95-459 (eomm. on International Relations). 
SENATE REPORT No. 95-466 (eomm. on Banking, Housing, and Urban Affairs). 
CONGRESSIONAL RECORD, Vol. 123 (1977): 
July 12, considered and passed House. 
Oct. 11, considered and passed Senate, amended. 
' 
Nov. 30, House concurred in certain Senate amendments, in others with 
amendments. 
Dec. 7, Senate concurred in House amendments. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 13, No. 53: 
Dec. 28, Presidential statement.