Other Presidential Documents Notice of May 18, 2006 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 emer- gency protecting the Development Fund for Iraq and certain other property in which Iraq has an interest, pursuant to the International Emergency Eco- nomic Powers Act (50 U.S.C. 170\177-\177706) (IEEPA). I took this action to deal with the unusual and extraordinary threat to the national security and for- eign policy of the United States posed by the obstacles to the orderly recon- struction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and eco- nomic institutions in Iraq constituted by the threat of attachment or other iudicial 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 prop- erty 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 secu- rity 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 Exec- utive Order 13315 to include certain persons determined to have been sub- ject 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 subiect 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)(\177)(C) of IEEPA, 50 U.S.C. 1702(a)(\177)(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 origi- nally exercised these authorities pursuant to the national emergency in Ex- ecutive Order \1772722. In light of the changed circumstances in Iraq and my decision to terminate the national emergency declared in 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 Execu- tive Order \17733\1775 of August 28, 2003, regarding the obstacles posed to the orderly reconstruction of Iraq. Executive Order 13350 amends Executive Order 13290 to that effect. 289
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