Notice Continuation of the National Emergency Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has An Interest

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
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.