EXECUTIVE
ORDER
EO 13303
Effective Date: May 28, 2003

Responsible Office: Office of Policy Coordination and International Relations
Subject: Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has an Interest


 
                Protecting the Development Fund for Iraq and 
                Certain Other Property in Which Iraq Has an Interest

                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, find that 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, and interests 
                therein, obstructs 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. This 
                situation constitutes an unusual and extraordinary 
                threat to the national security and foreign policy of 
                the United States and I hereby declare a national 
                emergency to deal with that threat.

                I hereby order:

                Section 1. 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:

                    (a) the Development Fund for Iraq, and
                    (b) all 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, 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.

                Sec. 2. (a) As of the effective date of this order, 
                Executive Order 12722 of August 2, 1990, Executive 
                Order 12724 of August 9, 1990, and Executive Order 
                13290 of March 20, 2003, shall not apply to the 
                property and interests in property described in section 
                1 of this order.

                    (b) Nothing in this order is intended to affect the 
                continued effectiveness of any rules, regulations, 
                orders, licenses or other forms of administrative 
                action issued, taken, or continued in effect heretofore 
                or hereafter under Executive Orders 12722, 12724, or 
                13290, or under the authority of IEEPA or the UNPA, 
                except as hereafter terminated, modified, or suspended 
                by the issuing Federal agency and except as provided in 
                section 2(a) of this order.

                Sec. 3. For the purposes of this order:

                    (a) The term ``person'' means an individual or 
                entity;
                    (b) The term ``entity'' means a partnership, 
                association, trust, joint venture, corporation, group, 
                subgroup, or other organization;
                    (c) The term ``United States person'' means any 
                United States citizen, permanent resident alien, entity 
                organized under the laws of the United

[[Page 31932]]

                States or any jurisdiction within the United States 
                (including foreign branches), or any person in the 
                United States;
                    (d) The term ``Iraqi petroleum and petroleum 
                products'' means any petroleum, petroleum products, or 
                natural gas originating in Iraq, including any Iraqi-
                origin oil inventories, wherever located; and
                    (e) The term ``Development Fund for Iraq'' means 
                the fund established on or about May 22, 2003, on the 
                books of the Central Bank of Iraq, by the Administrator 
                of the Coalition Provisional Authority responsible for 
                the temporary governance of Iraq and all accounts held 
                for the fund or for the Central Bank of Iraq in the 
                name of the fund.

                Sec. 4. (a) The Secretary of the Treasury, in 
                consultation with the Secretary of State and the 
                Secretary of Defense, 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 States 
                Government. All agencies of the United States 
                Government are hereby directed to take all appropriate 
                measures within their statutory 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. 5. 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. 6. This order shall be transmitted to the Congress 
                and published in the Federal Register.

                    (Presidential Sig.)B

                THE WHITE HOUSE,

                    May 22, 2003.

		

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