[Congressional Record Volume 153, Number 83 (Monday, May 21, 2007)]
[Senate]
[Page S6398]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


  REPORT RELATIVE TO THE CONTINUATION OF THE NATIONAL EMERGENCY WITH 
 RESPECT TO IRAQ AS DECLARED IN EXECUTIVE ORDER 13303 OF MAY 22, 2003, 
   AS RECEIVED DURING THE RECESS OF THE SENATE ON MAY 18, 2007--PM 15

  The PRESIDING OFFICER laid before the Senate the following message 
from the President of the United States, together with an accompanying 
report; which was referred to the Committee on Banking, Housing, and 
Urban Affairs:

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 modified in scope and relied upon for additional steps 
taken in Executive Order 13315 of August 28, 2003, Executive Order 
13350 of July 29, 2004, and Executive Order 13364 of November 29, 2004, 
is to continue in effect beyond May 22, 2007.
  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, and interests therein, 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 obstruct the orderly reconstruction of Iraq. These 
threats also impede the restoration and maintenance of peace and 
security and the development of political, administrative, and economic 
institutions in Iraq. These threats continue to pose an unusual and 
extraordinary threat to the national security and foreign policy of the 
United States. Accordingly, 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 maintain in force the measures to respond to 
this threat.
                                                      George W. Bush.  
The White House, May 18, 2007.

                          ____________________