    [Public Papers of the Presidents of the United States: George W. Bush (2004, Book II)]
    [July 29, 2004]
    [Pages 1418-1420]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Letter to Congressional Leaders Transmitting the Executive Order on
    Termination of the National Emergency Declared in Executive Order 12722
    With Respect to Iraq and Modification of Related Executive Orders
    July 29, 2004

    Dear Mr. Speaker:  (Dear Mr. President:)
        Consistent with subsection 204(b) of the International Emergency
    Economic Powers Act, 50 U.S.C. 1703(b) (IEEPA), I hereby report that I
    have issued an Executive Order (this ``order'') in which I terminate the
    national emergency declared in Executive Order 12722 of August 2, 1990,
    amend Executive Order 13290 of March 20, 2003, and take additional steps
    regarding the national emergency I declared in Executive Order 13303 of
    May 22, 2003, and expanded in Executive Order 13315 of August 28, 2003.
    I have determined that the situations that gave rise to these national
    emergencies have been significantly altered by the removal of the regime
    of Saddam Hussein and other developments.
        Executive Order 12722 of August 2, 1990, imposed sanctions on Iraq
    in response to its invasion of Kuwait and other actions. Those sanctions
    were modified in Executive Order 12724 of August 9, 1990, in light of
    United Nations Security Council Resolution (UNSCR) 661 of August 6,
    1990, which also imposed sanctions on Iraq. I have determined that the
    removal of the regime of Saddam Hussein
    warrants the termination altogether of the national emergency declared
    in Executive Order 12722. This action is consistent with United Nations
    Security Council Resolutions 1483 and 1546, of May 22, 2003, and June 8,
    2004, respectively, which substantially lifted the multilateral economic
    sanctions against Iraq.

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        Although I am terminating the national emergency declared in
    Executive Order 12722, pursuant to my authority under IEEPA, I am
    continuing for the near future certain prohibitions with respect to
    property previously blocked pursuant to Executive Orders 12722 and
    12724. Such prohibitions are necessary on account of claims involving
    Iraq.
        Consistent with section 203(a)(1)(C) of IEEPA, 50 U.S.C.
    1702(a)(1)(C), in Executive Order 13290 of March 20, 2003, 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 originally exercised
    these authorities in furtherance of Executive Order 12722. In light of
    the changed circumstances in Iraq, and my decision to terminate the
    national emergency declared in Executive Order 12722, I have now
    determined that the exercise of authorities in Executive Order 13290
    should continue in order to address the national emergency I declared in
    Executive Order 13303 of May 22, 2003, and expanded in Executive Order
    13315 of August 28, 2003, regarding the obstacles posed to the orderly
    reconstruction of Iraq. This order amends Executive Order 13290 to that
    effect.
        In Executive Order 13303 of May 22, 2003, I declared a national
    emergency 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
    expanded that emergency in Executive Order 13315 of August 28, 2003, in
    light of UNSCR 1483 of May 22, 2003, in which the Security Council
    decided that states shall freeze the assets of the former Iraqi regime,
    Saddam Hussein, and other senior officials of
    the former Iraqi regime, and their immediate family members, among
    others, and cause the transfer of certain of those assets to the
    Development Fund for Iraq. Executive Order 13315 implements this
    provision of UNSCR 1483.
        This order further modifies the actions taken to address the
    national emergency declared in Executive Order 13303, as expanded in
    Executive Order 13315, by amending the Annex to Executive Order 13315 to
    include certain persons determined to have been subject to economic
    sanctions pursuant to Executive Orders 12722 and 12724. Because of their
    association with the prior Iraqi regime, I have 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, I have determined that such persons should be
    subject to sanctions under Executive Order 13315.
        Additionally, in UNSCR 1483, the Security Council decided that
    states shall take appropriate steps to facilitate the safe return to
    Iraqi institutions of Iraqi cultural property or other items of
    archeological, historical, cultural, rare scientific, and religious
    importance that were illegally removed from the Iraq National Museum,
    the National Library, and other locations in Iraq since August 6, 1990,
    including by establishing a prohibition on trade in or transfer of such
    items and items with respect to which reasonable suspicion exists that
    they have been illegally removed. This order, among other actions,
    implements this international legal obligation.
        I have delegated to the Secretary of the Treasury, in consultation
    with the Secretary of State, the authority to take such actions,
    including the promulgation of rules and regulations, and to employ all
    powers granted to me by IEEPA and the United Nations Participation Act
    of 1945, as amended, as may be necessary to carry out the

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    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. I have directed all agencies
    of the United States Government to take all appropriate measures within
    their authority to carry out the provisions of this order.
        I have enclosed a copy of this order, which became effective at
    12:01 a.m. eastern daylight time on July 30, 2004.
             Sincerely,

                                                              George W. Bush

    Note: Identical letters were sent to J. Dennis Hastert, Speaker of the
    House of Representatives, and Richard B. Cheney, President of the
    Senate. The Executive order is listed in Appendix D at the end of this
    volume.