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Week Ending July 20, 2006

Executive Order 13438 blocking property of persons who threaten stabilization efforts in Iraq

Under the authority of various international acts and to extend provisions of previous Executive Orders based on a continued threat to national security and peace and stability in Iraq, the President is blocking access to assets in the US of individuals he deems a threat to those securities.

The assets will be blocked if they belong to persons

• who have committed or pose a significant risk of committing acts of violence that have the purpose or effect of threatening the peace and stability of Iraq or its government,

• or who undermine efforts to promote economic reconstruction and political reform in Iraq,

• or who undermine the provision of humanitarian assistance to the Iraq people,

• or who have materially assisted, sponsored or provided financial, material, logistical or technical support, foods, or service in support of those whose assets are being blocked or have been blocked.

Assets can not be transferred, paid, exported, or withdrawn.

The order goes further to prohibit any action by a US person or a person within the US to evade, avoid or attempt to violate or involves in a conspiracy to violate the prohibitions in this order.

The order does not require prior notice of asset blocking and covers individuals, a partnership, association, trust, joint venture, corporation, group, subgroup, or other organizations.

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