ExecutiveOrdersEO
Notice 13303NoticeG.W. Bush · R

Presidential Notice 13303

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

President Bush continued for one year the national emergency declared in 2003 that protects Iraqi oil revenues and related assets from legal attachment or judicial process. This routine annual extension, required by the National Emergencies Act, preserves legal immunities for the Development Fund for Iraq and Iraqi petroleum assets.

Federal Register Open PDF 72 FR 28581

Impact dates

  1. Continued national emergency expires unless renewed

Key directives

  • Continue national emergency declared May 22, 2003 for 1 year beyond May 22, 2007
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • National emergency continues in effect beyond May 22, 2007
  • Legal protections for Iraqi assets remain intact

Near term (90d)

—

Long term

  • Emergency expires May 22, 2008 unless renewed again

Risks & tensions

  • Routine procedural renewal; no policy change indicated
  • Vague on whether Iraqi reconstruction conditions have actually improved
  • Potential tension between asset protection and accountability for Iraqi fund management
Presidential Notice 13303: Continuation of the National Emergency Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has an Interest · Executive Orders