[Federal Register Volume 68, Number 56 (Monday, March 24, 2003)]
[Presidential Documents]
[Pages 14307-14308]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-7160]



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Part IV





The President





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Executive Order 13290--Confiscating and Vesting Certain Iraqi Property
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  Federal Register / Vol. 68, No. 56 / Monday, March 24, 2003 / 
Presidential Documents  

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 Title 3--
 The President

[[Page 14307]]

                Executive Order 13290 of March 20, 2003

                
Confiscating and Vesting Certain Iraqi Property

                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 (50 U.S.C. 1701 et seq.) (IEEPA), the 
                National Emergencies Act (50 U.S.C. 1601 et seq.), and 
                section 301 of title 3, United States Code, and in 
                order to take additional steps with respect to the 
                national emergency declared in Executive Order 12722 of 
                August 2, 1990,

                I, GEORGE W. BUSH, President of the United States of 
                America, hereby determine that the United States and 
                Iraq are engaged in armed hostilities, that it is in 
                the interest of the United States to confiscate certain 
                property of the Government of Iraq and its agencies, 
                instrumentalities, or controlled entities, and that all 
                right, title, and interest in any property so 
                confiscated should vest in the Department of the 
                Treasury. I intend that such vested property should be 
                used to assist the Iraqi people and to assist in the 
                reconstruction of Iraq, and determine that such use 
                would be in the interest of and for the benefit of the 
                United States.

                I hereby order:

                Section 1. All 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 are hereby 
                confiscated and vested in the Department of the 
                Treasury, except for the following:

                (a) any such funds that are subject to the Vienna 
                Convention on Diplomatic Relations or the Vienna 
                Convention on Consular Relations, or that enjoy 
                equivalent privileges and immunities under the laws of 
                the United States, and are or have been used for 
                diplomatic or consular purposes, and

                (b) any such amounts that as of the date of this order 
                are subject to post-judgment writs of execution or 
                attachment in aid of execution of judgments pursuant to 
                section 201 of the Terrorism Risk Insurance Act of 2002 
                (Public Law 107 297), provided that, upon satisfaction 
                of the judgments on which such writs are based, any 
                remainder of such excepted amounts shall, by virtue of 
                this order and without further action, be confiscated 
                and vested.

                Sec. 2. The Secretary of the Treasury is authorized to 
                perform, without further approval, ratification, or 
                other action of the President, all functions of the 
                President set forth in section 203(a)(1)(C) of IEEPA 
                with respect to any and all property of the Government 
                of Iraq, including its agencies, instrumentalities, or 
                controlled entities, and to take additional steps, 
                including the promulgation of rules and regulations as 
                may be necessary, to carry out the purposes of this 
                order. The Secretary of the Treasury may redelegate 
                such functions in accordance with applicable law. The 
                Secretary of the Treasury shall consult the Attorney 
                General as appropriate in the implementation of this 
                order.

[[Page 14308]]

                Sec. 3. This order shall be transmitted to the Congress 
                and published in the Federal Register.

                    (Presidential Sig.)B

                THE WHITE HOUSE,

                     March 20, 2003.

[FR Doc. 03-7160
Filed 3-21-03; 10:06 am]
Billing code 3195-01-P