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

<R04>
Message to the Congress on Continuation of the National Emergency 
Protecting the Development Fund for Iraq and Certain Other Property

May 20, 2004

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, stating that the national emergency declared in 
Executive Order 13303 of May 22, 2003, as expanded in scope by Executive 
Order 13315 of August 28, 2003, protecting the Development Fund for Iraq 
and certain other property in which Iraq has an interest, is to continue 
in effect beyond May 22, 2004, to the Federal Register for publication.
    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, pose a continuing unusual and 
extraordinary threat to the national security and foreign policy of the 
United States. For these reasons, I have determined that it is necessary 
to continue the national emergency protecting the Development Fund for 
Iraq, and certain other property in which Iraq has an interest, and to 
maintain in force the sanctions to respond to this threat.
                                                George W. Bush
 The White House,
 May 20, 2004.