[Weekly Compilation of Presidential Documents Volume 40, Number 49 (Monday, December 6, 2004)]
[Pages 2873-2874]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Executive Order 13364--Modifying the Protection Granted to the 
Development Fund for Iraq and Certain Property in Which Iraq Has an 
Interest and Protecting the Central Bank of Iraq

November 29, 2004

    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, as amended (50 U.S.C. 1701 et seq.) 
(IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 
5 of the United Nations Participation Act, as amended (22 U.S.C. 287c) 
(UNPA), and section 301 of title 3, United States Code,
    I, George W. Bush,  President of the United States of America, 
hereby modify the scope of the national emergency declared in Executive 
Order 13303 of May 22, 2003, and expanded in Executive Order 13315 of 
August 28, 2003, and further modified in Executive Order 13350 of July 
29, 2004, 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 find 
that the threat of attachment or other judicial process against the 
Central Bank of Iraq constitutes one of these obstacles. I further 
determine that, consistent with United Nations Security Council 
Resolutions 1483 of May 22, 2003, and 1546 of June 8, 2004, the steps 
taken in Executive Order 13303 to deal with the national emergency 
declared therein need to be limited so that such steps do not apply with 
respect to any final judgment arising out of a contractual obligation 
entered into by the Government of Iraq, including any agency or 
instrumentality thereof, after June 30, 2004, and so that, with respect 
to Iraqi petroleum and petroleum products and interests therein, such 
steps shall apply only until title passes to the initial purchaser.
    I hereby order:
    Section 1.  Section 1 of Executive Order 13303 is hereby amended to 
read as follows:
    ``Section 1. (a) Except as provided in section 1(b) of this order, 
            and unless licensed or otherwise authorized pursuant to this 
            order, any attachment, judgment, decree, lien, execution, 
            garnishment, or other judicial process is prohibited and 
            shall be deemed null and void with respect to the following:
 (i)         the Development Fund for Iraq;
 (ii)        all Iraqi petroleum and petroleum products, and interests 
            therein, but only until title passes to the initial 
            purchaser, and proceeds, obligations, or any financial 
            instruments of any nature whatsoever arising from or related 
            to the sale or marketing thereof, and interests therein, in 
            which any foreign country or a national thereof has any 
            interest, that are in the United States, that hereafter come 
            within the United States, or that are or hereafter come 
            within the possession or control of United States persons; 
            and
 (iii)       any accounts, assets, investments, or any other property of 
            any kind owned by, belonging to, or held by the Central Bank 
            of Iraq, or held, maintained, or otherwise controlled by any 
            financial institution of any kind in the name of, on behalf 
            of, or otherwise for the Central Bank of Iraq.
     (b) The prohibition in section 1(a) of this order shall not apply 
            with respect to any final judgment arising out of a 
            contractual obligation entered into by the Government of 
            Iraq, including any agency or instrumentality thereof, after 
            June 30, 2004.''
    Sec. 2.  (a) The Secretary of the Treasury, in consultation with the 
Secretary of State, is hereby authorized to take such actions, including 
the promulgation of rules and regulations, and to employ all powers 
granted to the President by IEEPA and the UNPA as may be necessary to 
carry out the purposes of this order. The Secretary of the Treasury may 
redelegate any of these functions to other officers and agencies of the 
United

[[Page 2874]]

States Government consistent with applicable law. All agencies of the 
United States Government are hereby directed to take all appropriate 
measures within their authority to carry out the provisions of this 
order.
    (b) Nothing contained in this order shall relieve a person from any 
requirement to obtain a license or other authorization in compliance 
with applicable laws and regulations.
    Sec. 3.  This order is not intended to, and does not, create any 
right, benefit, or privilege, substantive or procedural, enforceable at 
law or in equity by a party against the United States, its departments, 
agencies, entities, officers, employees, or agents, or any other person.
    Sec. 4.  This order shall be transmitted to the Congress and 
published in the Federal Register.
                                                George W. Bush
 The White House,
 November 29, 2004.

 [Filed with the Office of the Federal Register, 9:47 a.m., December 1, 
2004]

Note: This Executive order was published in the Federal Register on 
December 2.