* The White House
May 17th, 2011 06:52 pm · Posted in NEWS (Iraq & World Currency)
The White House
Office of the Press Secretary
For Immediate ReleaseMay 17, 2011
Message from the President regarding the continuation of the national emergency with respect to the stabilization of Iraq
TEXT OF A LETTER FROM THE PRESIDENT
TO THE SPEAKER OF THE HOUSE OF REPRESENTATIVES
AND THE PRESIDENT OF THE SENATE
May 17, 2011
Dear Mr. Speaker: (Dear Mr. President:)
Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, prior to the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date. In accordance with this provision, I have sent the enclosed notice to the Federal Register for publication continuing the national emergency with respect to the stabilization of Iraq. This notice states that the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303 of May 22, 2003, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007, is to continue in effect beyond May 22, 2011.
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. Accordingly, I have determined that it is necessary to continue the national emergency with respect to this threat and maintain in force the measures taken to deal with that national emergency.
Recognizing positive developments in Iraq, the United Nations Security Council decided, in Resolution 1956 (2010), to terminate on June 30, 2011, arrangements concerning the Development Fund for Iraq established in Resolutions 1483 (2003) and 1546 (2004). The Security Council also called upon the Iraqi government to finalize the full and effective transition to a post‑Development Fund mechanism by June 30, 2011. My Administration will evaluate Iraq’s ongoing efforts in this regard, as well as its progress in resolving outstanding debts and claims arising from actions of the previous regime, so that I may determine whether to continue beyond June 30, 2011, the prohibitions contained in Executive Order 13303 of May 22, 2003, as amended by Executive Order 13364 of November 29, 2004, on any attachment, judgment, decree, lien, execution, garnishment, or other judicial process with respect to the Development Fund for Iraq, the accounts, assets, and property held by the Central Bank of Iraq, and Iraqi petroleum‑related products, which are in addition to the sovereign immunity accorded Iraq under otherwise applicable law.