Termination of Emergency Declared in Executive 
                Order 12722 With Respect to Iraq and Modification of 
                Executive Order 13290, Executive Order 13303, and 
                Executive Order 13315

                By the authority vested in me as President by the 
                Constitution and laws of the United States of America, 
                including the International Emergency Economic Powers 
                Act (50 U.S.C. 1701 et seq.)(IEEPA), the National 
                Emergencies Act (50 U.S.C. 1601 et seq.)(NEA), 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, have determined that the situation that gave 
                rise to the declaration of a national emergency with 
                respect to Iraq in Executive Order 12722 of August 2, 
                1990, has been significantly altered by the removal of 
                the regime of Saddam Hussein and other developments. I 
                hereby terminate the national emergency declared in 
                Executive Order 12722, revoke that Executive Order and 
                Executive Order 12724 of August 9, 1990, Executive 
                Order 12734 of November 14, 1990, Executive Order 12743 
                of January 18, 1991, Executive Order 12751 of February 
                14, 1991, and Executive Order 12817 of October 21, 
                1992, that are based on that national emergency. I 
                hereby amend Executive Order 13290 of March 20, 2003, 
                so that the authorities therein remain in effect based 
                on the national emergency I declared in Executive Order 
                13303 of May 22, 2003, and expanded in Executive Order 
                13315 of August 28, 2003. At the same time, and in 
                order to take additional steps to deal with the 
                national emergency that I declared in Executive Order 
                13303, and expanded in Executive Order 13315, with 
                respect to 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 hereby order:

                Section 1. Pursuant to section 202(a) of the NEA (50 
                U.S.C. 1622(a)), termination of the national emergency 
                declared in Executive Order 12722 shall not affect any 
                action taken or proceeding pending but not finally 
                concluded or determined as of the effective date of 
                this order, any action or proceeding based on any act 
                committed prior to such date, or any rights or duties 
                that matured or penalties that were incurred prior to 
                such date. Pursuant to section 207(a) of IEEPA (50 
                U.S.C. 1706(a)), and subject to such regulations, 
                orders, directives, or licenses as may be issued 
                pursuant to this order, I hereby determine that the 
                continuation of prohibitions with regard to 
                transactions involving property blocked pursuant to 
                Executive Orders 12722 or 12724 that continues to be 
                blocked as of the effective date of this order is 
                necessary on account of claims involving Iraq.

                Sec. 2. The Annex to Executive Order 13315 is replaced 
                and superseded in its entirety by the Annex to this 
                order.

                Sec. 3. I hereby amend Executive Order 13290 by 
                removing ``the national emergency declared in Executive 
                Order 12722 of August 2, 1990'' and replacing it with 
                ``the national emergency declared in Executive Order 
                13303 of March 20, 2003, and expanded in Executive 
                Order 13315 of August 28, 2003''.

[[Page 46056]]

                Sec. 4. Unless licensed or otherwise authorized 
                pursuant to this order or otherwise consistent with 
                U.S. law, the trade in or transfer of ownership or 
                possession of Iraqi cultural property or other items of 
                archeological, historical, cultural, rare scientific, 
                and religious importance that were illegally removed, 
                or for which a reasonable suspicion exists that they 
                were illegally removed, from the Iraq National Museum, 
                the National Library, and other locations in Iraq since 
                August 6, 1990, is prohibited.

                Sec. 5. I hereby determine that the making of donations 
                of the type specified in section 203(b)(2) of IEEPA (50 
                U.S.C. 1702(b)(2)) by or to persons determined to be 
                subject to the sanctions imposed by Executive Order 
                13315 or by this order would seriously impair my 
                ability to deal with the national emergency declared in 
                Executive Order 13303, and expanded by Executive Order 
                13315, or would endanger the Armed Forces of the United 
                States that are engaged in hostilities, and I hereby 
                prohibit such donations as provided in section 1 of 
                Executive Order 13315 as amended by this order.

                Sec. 6. For those persons listed in the Annex to this 
                order or determined to be subject to Executive Order 
                13315 or this order who might have a constitutional 
                presence in the United States, I find that because of 
                the ability to transfer funds or other assets 
                instantaneously, prior notice to such persons of 
                measures to be taken pursuant to this order would 
                render these measures ineffectual. I therefore 
                determine that for these measures to be effective in 
                addressing the national emergency declared in Executive 
                Order 13303, and expanded by Executive Order 13315, 
                there need be no prior notice of a listing or 
                determination made pursuant to Executive Order 13315 or 
                this order.

                Sec. 7. 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 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 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.

                Sec. 8. The Secretary of the Treasury, in consultation 
                with the Secretary of State, is authorized to determine 
                subsequent to the issuance of the order, that 
                circumstances no longer warrant the inclusion of a 
                person in the Annex to this order and that such person 
                is therefore no longer covered within the scope of the 
                order.

                Sec. 9. This order is not intended to, and does not, 
                create any right or benefit, substantive or procedural, 
                enforceable at law or in equity by any party against 
                the United States, its departments, agencies, 
                instrumentalities, or entities, officers or employees, 
                or any other person.

[[Page 46057]]

                Sec. 10. This order is effective at 12:01 a.m. eastern 
                daylight time on July 30, 2004. This order shall be 
                transmitted to the Congress and published in the 
                Federal Register.

                    (Presidential Sig.)B

                THE WHITE HOUSE,

                    July 29, 2004.