3. International Economic Sanctions a. Trading With the Enemy Act, as amended Partial text of Public Law 65-91 [H.R. 4960], 40 Stat. 411, approved October 6, 1917; as amended by Public Law 65-217 [H.R. 12923], 40 Stat. 966, approved September 24, 1918; Public Law 73-1 [H.R. 1491], 48 Stat. 1, approved March 9, 1933; Public Resolution 76-69 [S.J. Res. 252], 54 Stat. 179, approved May 7, 1940; Public Law 77-354 [H.R. 6233], 55 Stat. 839, approved December 18, 1941; Presidential Proclamation 2695, effective July 4, 1946, 60 Stat. 1352; Public Law 95223 [International Emergency Economic Powers Act; H.R. 7738], 91 Stat. 1625, approved December 28, 1977; Public Law 99-93 [Foreign Relations Authorization Act, Fiscal Years 1986 and 1987; H.R. 2068], 99 Stat. 449, approved August 16, 1985; and by Public Law 100-418 [Omnibus Trade and Competitiveness Act of 1988; H.R. 4848], 102 Stat. 1107, approved August 23, 1988 * SECTION 5. (b) 1 (1) During the time of war,2 the President may through any agency that he may designate, and under such rules and regulations as he may prescribe, by means of instructions, licenses, or otherwise (A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or payments between, by, through, or to any banking institution, and the importing, exporting, hoarding, melting, or earmarking of gold or silver coin or bullion, currency or securities, and (B) investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisition, holding, withholding, use, transfer withdrawal, transportation, importation or exportation of, or dealing in or exercising any right, power, or privilege with respect to, or transactions involving, any property in which any foreign country or a national thereof has any interest, by any person, or with respect to any property, subject to the jurisdiction of the United States; and any property or interest of any foreign country or national thereof shall vest, when, as, and upon 150 U.S.C. App. 5(b). Subsec. (b), which is also classified to 12 U.S.C. 95a (Banks and Banking was amended and restated by sec. 301 of Public Law 77-354 (55 Stat. 839). 2 The words "or during any other period of national emergency declared by the President", which previously appeared at this point, were struck out by sec. 101(a) of Public Law 95-223 (91 Stat. 1625). Sec. 101 (b) and (c) of the same Act further stipulated: "(b) Notwithstanding the amendment made by subsection (a), the authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act, which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, may continue to be exercised with respect to such country, except that, unless extended the exercise of such authorities shall terminate (subject to the savings pre visions of the second sentence of section 101(a) of the National Emergencies Act) at the end of the two-year period beginning on the date of enactment of the National Emergencies Act. The President may extend the exercise of such authorities for one-year periods upon a determination of each such extension that the exercise of such authorities with respect to such country for another year is in the national interest of the United States. "(c) The termination and extension provisions of subsection (b) of this section supersede the provisions of section 101(a) and of title II of the National Emergencies Act to the extent that the provisions of subsection (b) of this section are inconsistent with those provisions.". the terms, directed by the President in such agency or person as may be designated from time to time by the President, and upon such terms and conditions as the President may prescribe such interest or property shall be held, used, administered, liquidated, sold, otherwise dealt with in the interest of and for the benefit of the United States and such designated agency or person may perform any and all acts incident to the accomplishment or furtherance of these purposes; and the President shall, in the manner hereinabove provided, require any person to keep a full record of, and to furnish under oath, in the form of reports or otherwise, complete information relative to any act or transaction referred to in this subdivision either before, during, or after the completion thereof, or relative to any interest in foreign property, or relative to any property in which any foreign country or any national thereof has or has had any interest, or as may be otherwise necessary to enforce the provisions of this subdivision, and in any case in which a report could be required, the President may, in the manner hereinabove provided, require the production, or if necessary to the national security or defense, the seizure, of any books of account, records, contracts, letters, memoranda, or other papers, in the custody or control of such person.3 (2) Any payment, conveyance, transfer, assignment, or delivery of property or interest therein, made to or for the account of the United States, or as otherwise directed, pursuant to this subdivision or any rule, regulation, instruction, or direction issued hereunder shall to the extent thereof be a full acquittance and discharge for all purposes of the obligation of the person making the same; and no person shall be held liable in any court for or in respect to anything done or omitted in good faith in connection with the administration of, or in pursuance of and in reliance on, this subdivision, or any rule, regulation, instruction, or direction issued hereunder. (3) As used in this subdivision the term "United States" means the United States and any place subject to the jurisdiction thereof: 4 Provided, however, That the foregoing shall not be construed as a limitation upon the power of the President, which is hereby conferred, to prescribe from time to time, definitions, not inconsistent with the purposes of this subdivision, for any or all of the terms used in this subdivision.5 As used in this subdivision the 3 The words "; and the President may, in the manner hereinabove provided, take other or further measures not inconsistent herewith for the enforcement of this subdivision", which previously appeared at this point, were struck out by sec. 102(2) of Public Law 95-223 (91 Stat. 1625). Words "including the Philippine Islands, and the several courts of first instance of the Commonwealth of the Philippine Islands shall have jurisdiction in all cases, civil or criminal, arising under this subdivision in the Philippine Islands and concurrent jurisdiction with the district courts of the United States of all cases, civil or criminal, arising upon the high seas" immediately preceding the proviso in subsec. (b)(3) of this section, have been omitted on the authority of 1946 Proclamation No. 2695, which is set out as a note under section 1394 of Title 22, Foreign Relations and Intercourse, and in which the President proclaimed the independence of the Philippines. Sec. 103(b) of Public Law 95-223 (91 Stat. 1626) struck out the following sentence which previously appeared at this point: "Whoever willfully violates any of the provisions of this subdivision or of any license, order, rule or regulation issued thereunder, shall, upon conviction, be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment, or both.". term "person" means an individual, partnership, association, or corporation. 6 (4) The authority granted to the President in this subsection does not include the authority to regulate or prohibit, directly or indirectly, the importation from any country, or the exportation to any country, whether commercial or otherwise, of publications, films, posters, phonograph records, photographs, microfilms, microfiche, tapes, or other informational materials, which are not otherwise controlled for export under section 5 of the Export Administration Act of 1979 or with respect to which no acts are prohibited by chapter 37 of title 18, United States Code. 6 Par. (4) was added by sec. 2502(a)(1) of Public Law 100-418 (102 Stat. 1371). Sec. 2502(a)(2) of that Act further stated that: "(2) The authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act, which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, and are being exercised on the date of the enactment of this Act, do not include the authority to regulate or prohibit, ;directly or indirectly, any activity which, under section 5(b)(4) of the Trading With the Enemy Act, as added by paragraph (1) of this subsection, may not be regulated or prohibited.". b. International Emergency Economic Powers Act Partial text of Public Law 95–223 [H.R. 7738], 91 Stat. 1625, approved December 28, 1977, as amended by Public Law 100-418 [Omnibus Trade and Competitiveness Act of 1988; H.R. 4848], 102 Stat. 1107, approved August 23, 1988 AN ACT With respect to the powers of the President in time of war or national emergency. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, NOTE.-Except for the provisions reproduced below, this 503). TITLE I-AMENDMENTS TO THE TRADING WITH THE REMOVAL OF NATIONAL EMERGENCY POWERS UNDER THE TRADING WITH THE ENEMY ACT (b) Notwithstanding the amendment made by subsection (a), the authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act, which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, may continue to be exercised with respect to such country, except that, unless extended, the exercise of such authorities shall terminate (subject to the savings provisions of the second sentence of section 101(a) of the National Emergencies Act) at the end of the two-year period beginning on the date of enactment of the National Emergencies Act. The President may extend the exercise of such authorities for one-year periods upon a determination of each such extension that the exercise of such authorities with respect to such country for another year is in the national interest of the United States. 2 (c) The termination and extension provisions of subsection (b) of this section supersede the provisions of section 101(a) and of title II 1 50 U.S.C. app. 5 note. 2 Since 1977, the President has utilized this provision each year to extend certain authorities being exercised prior to July 1, 1977, under sec. 5(b) of the Trading with the Enemy Act. The most recent action, Presidential Determination 89-25 of August 28, 1989 (54 F.R. 37089), extended until September 14, 1990, the exercise of those authorities with respect to countries affected by the Foreign Assets Control Regulations, the Transaction Control Regulations, the Cuban Assets Control Regulations, and the Foreign Funds Control Regulations. of the National Emergencies Act to the extent that the provisions of subsection (b) of this section are inconsistent with those provisions. (d) Paragraph (1) of section 502(a) of the National Emergencies Act is repealed. SEC. 201.3 This title may be cited as the "International Emergency Economic Powers Act". SITUATIONS IN WHICH AUTHORITIES MAY BE EXERCISED SEC. 202.4 (a) Any authority granted to the President by section 203 may be exercised to deal with any unusual and extraordinary threat, which has its source in whole or substantial part outside the United States, to the national security, foreign policy, or economy of the United States, if the President declares a national emergency with respect to such threat. (b) The authorities granted to the President by section 203 may only be exercised to deal with an unusual and extraordinary threat with respect to which a national emergency has been declared for purposes of this title and may not be exercised for any other purpose. Any exercise of such authorities to deal with any new threat shall be based on a new declaration of national emergency which must be with respect to such threat. GRANTS OF AUTHORITIES SEC. 203.5 (a)(1) At the times and to the extent specified in section 202, the President may, under such regulations as he may prescribe, by means of instructions, licenses, or otherwise (A) investigate, regulate, or prohibit (i) any transactions in foreign exchange, (ii) transfer of credit or payments between, by, through, or to any banking institution, to the extent that such transfers or payments involve any interest of any foreign country or a national thereof, (iii) the importing or exporting of currency or securities; and (B) investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisition, holding, withholding, use, transfer, withdrawal, transportation, importation or exporta 3 50 U.S.C. 1701 note. 4 50 U.S.C. 1701. 5 50 U.S.C. 1702. |