[Weekly Compilation of Presidential Documents Volume 40, Number 21 (Monday, May 24, 2004)]
[Pages 933-934]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Notice--Continuation of the National Emergency Protecting the 
Development Fund for Iraq and Certain Other Property in Which Iraq Has 
an Interest

May 20, 2004

    On May 22, 2003, by Executive Order 13303, I declared a national 
emergency protecting the Development Fund for Iraq and certain other 
property in which Iraq has an interest, pursuant to the International 
Emergency Economic Powers Act (50 U.S.C. 1701-1706). I took this action 
to deal with the unusual and extraordinary threat to the national 
security and foreign policy of the United States posed by the obstacles 
to the orderly reconstruction of Iraq, the restoration and maintenance 
of peace and security in the country, and the development of political, 
administrative, and economic institutions in Iraq constituted by the 
threat of attachment or other judicial 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 property 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 security in the country, and the development of 
political, administrative, and economic institutions in Iraq.
    Because these obstacles to the orderly reconstruction of Iraq, the 
restoration and maintenance of peace and security in the country, and 
the development of political, administrative, and economic institutions 
in Iraq continue to pose an unusual and extraordinary threat to the 
national security and foreign policy of the United States, the national

[[Page 934]]

emergency declared on May 22, 2003, and the measures adopted on that 
date and on August 28, 2003, to deal with that emergency, must continue 
in effect beyond May 22, 2004. Therefore, in accordance with section 
202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am 
continuing for 1 year the national emergency protecting the Development 
Fund for Iraq and certain other property in which Iraq has an interest.
    This notice shall be published in the Federal Register and 
transmitted to the Congress.
                                                George W. Bush
 The White House,
 May 20, 2004.

 [Filed with the Office of the Federal Register, 2:48 p.m., May 20, 
2004]

Note: This notice was published in the Federal Register on May 21.