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F ederal R eserve B ank
OF DALLAS
W IL L IA M
H . W ALLAC E
DALLAS, TEXAS 7 5 2 2 2
FIRST VIC E P R ES ID EN T
AN D CH IE F O P E R A TIN G O FFICER
August 24, 1990
Circular 90-63
TO:
The Chief Executive Officer of each
member bank and others concerned in
the Eleventh Federal Reserve District
SUBJECT
Executive Orders Blocking Transactions with Iraq and Kuwait
DETAILS
On August 9, 1990, President George Bush issued two Executive Orders
numbered 12724 and 12725 which took steps to deal with Iraq’s invasion of
Kuwait. These were issued in addition to the Executive Orders dated August 2,
1990, numbered 12722 and 12723. The August 2, 1990, Executive Orders were
previously distributed by the Federal Reserve Bank of Dallas in Circular
90-57. To the extent that the Executive Orders described in Circular 90-57
are inconsistent with Executive Order No. 12724 and No. 12725, the August 2,
1990, Executive Orders are revoked.
ATTACHMENTS
Copies of the August 9, 1990, Executive Orders appearing in the
Federal Register at Vol. 55, No. 156, Pages 33089 through 33092, dated Monday,
August 13, 1990, are attached.
MORE INFORMATION
For more information please contact Jane Anne Schmoker at (214)
651-6228. For additional copies of this circular, please contact the Public
Affairs Department at (214) 651-6289.
Sincerely yours,
For additional copies of any circular, please contact the Public Affairs Department at (214) 651-6289. Bankers and others are encouraged to use the following
toll-free number in contacting the Federal Reserve Bank of Dallas: (800) 333-4460.
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
33089
Federal Register
VoL 55, No. 158
Presidential Documents
Monday, August 13, 1990
Title 3—
Executive Order 22724 of August 9, 1990
The President
Blocking Iraqi Government Property and Prohibiting Transac
tions With Iraq
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 e t seq.), the National Emergencies Act (50 U.S.C.
1601 et seq.), section 301 of title 3 of the United States Code, and the United
Nations Participation Act (22 U.S.C. 287c), in view of United Nations Security
Council Resolution No. 661 of August 6, 1990, and in order to take additional
steps with respect to Iraq’s invasion of Kuwait and the national emergency
declared in Executive Order No. 12722,
I, GEORGE BUSH, President of the United States of America, hereby order:
Section 1. Except to the extent provided in regulations that may hereafter be
issued pursuant to this order, all property and interests in property of the
Government of Iraq that are in the United States, that hereafter come within
the United States, or that are or hereafter come within the possession or
control of United States persons, including their overseas branches, are
hereby blocked.
S e a 2. The following are prohibited, except to the extent provided in regula
tions that may hereafter be issued pursuant to this order:
(a) The importation into the United States of any goods or services of Iraqi
origin, or any activity that promotes or is intended to promote such importa
tion;
(b) The exportation to Iraq, or to any entity operated from Iraq, or owned or
controlled by the Government of Iraq, directly or indirectly, of any goods,
technology {including technical data or other information), or services either
(i) from the United States, or (ii) requiring the issuance of a license by a
Federal agency, or any activity that promotes or is intended to promote such
exportation, except donations of articles intended to relieve human suffering,
6uch as food and supplies intended strictly for medical purposes:
(c) Any dealing by a United States person related to property of Iraqi origin
exported from Iraq after August 6, 1990, or property intended for exportation
from Iraq to any country, or exportation to Iraq from any country, or any
activity of any kind that promotes or is intended to promote such dealing:
(d) Any transaction by a United States person relating to travel by any United
States citizen or permanent resident alien to Iraq, or to activities by any such
person within Iraq, after the date of this order, other than transactions
necessary to effect (i) such person’s departure from Iraq, (ii) travel and
activities for the conduct of the official business of the Federal Government or
the United Nations, or (iii) travel for journalistic activity by persons regularly
employed in such capacity by a news-gathering organization:
(e) Any transaction by a United States person relating to transportation to or
from Iraq: the provision of transportation to or from the United States by any
Iraqi person or any vessel or aircraft of Iraqi registration: or the sale in the
United States by any person holding authority under the Federal Aviation Act
of 1958, as amended (49 U.S.C. 1301 et seq.), of any transportation by air that
includes any stop in Iraq;
33090
Federal Register / Vol. 55, No. 156 / Monday, August 13, 1990 / Presidential Documents
(f) The performance by any United States person of any contract, including a
financing contract, in support of an industrial, commercial, public utility, or
governmental project in Iraq;
(g) Except as otherwise authorized herein, any commitment or transfer, direct
or indirect, of funds, or other financial or economic resources by any United
States person to the Government of Iraq or any other person in Iraq;
(h) Any transaction by any United States person that evades or avoids, or has
the purpose of evading or avoiding, any of the prohibitions set forth in this
order.
Sec. 3. For purposes of this order:
(a) the term "United States person” means any United States citizen, perma
nent resident alien, juridical person organized under the laws of the United
States (including foreign branches}, or any person in the United States, and
vessels of U.S. registration.
(b) the term "Government of Iraq” includes the Government of Iraq, its
agencies, instrumentalities and controlled entities, and the Central Bank of
Iraq.
Sec. 4. This order is effective immediately.
Sec. 5. 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, as may be necessary to carry out the purposes of this
order. Such actions may include prohibiting or regulating payments or trans
fers of any property or any transactions involving the transfer of anything of
economic value by any United States person to the Government of Iraq, or to
any Iraqi national or entity owned or controlled, directly or indirectly, by the
Government of Iraq or Iraqi nationals. The Secretary of the Treasury may
redelegate any of these functions to other officers and agencies of the Federal
Government. All agencies of the Federal Government are directed to take all
appropriate measures within their authority to carry out the provisions of this
order, including the suspension or termination of licenses or other authoriza
tions in effect as of the date of this order.
Sec. 6. Executive Order No. 12722 of August 2, 1990, is hereby revoked to the
extent inconsistent with this order. All delegations, rules, regulations, orders,
licenses, and other forms of administrative action made, issued, or otherwise
taken under Executive Order No. 12722 and not revoked administratively shall
remain in full force and effect under this order until amended, modified, or
terminated by proper authority. The revocation of any provision of Executive
Order No. 12722 pursuant to this section shall not affect any violation of any
rules, regulations, orders, licenses, or other forms of administrative action
under that order during the period that such provision cf that order was in
effect.
This order shall be transmitted to the Congress and published in the Federal
Register.
THE WHITE HOUSE,
A ugust 9, 1990.
[FR Doc. 90-19151
Filed 8-10-90; 10:35 am]
Billing code 3195-01-m
Editorial note: For the President's message to the Congress on the blockage of Iraqi Government
property, see the Weekly Compilation o f Presidential Documents (vol. 26. no. 32).
Federal Register / Vol. 55, No. 156 / Monday, August 13,1990 / Presidential Documents
33091
Presidential Documents
Executive Order 12725 of August 9, 1990
Blocking Kuwaiti Government Property and Prohibiting Trans
actions With Kuwait
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.), the National Emergencies Act (50 U.S.C.
1601 et seq.), section 301 of title 3 of the United States Code, and the United
Nations Participation Act (22 U.S.C. 287c), in view of United Nations Security
Council Resolution No. 661 of August 6, 1990, and in order to take additional
steps with respect to Iraq’s invasion of Kuwait and the national emergency
declared in Executive Order No. 12722,
I, GEORGE BUSH, President of the United States of America, hereby order:
Section 1. Except to the extent provided in regulations that may hereafter be
issued pursuant to this order, all property and interests in property of the
Government of Kuwait that are in the United States, that hereafter come
within the United States, or that are or hereafter come within the possession
or control of United States persons, including their overseas branches, are
blocked.
Sec. 2. The following are prohibited, except to the extent provided in regula
tions that may hereafter be issued pursuant to this order:
(a) The importation into the United States of any goods or services of Kuwaiti
origin, or any activity that promotes or is intended to promote such importa
tion:
(b) The exportation to Kuwait, or to any entity operated from Kuwait or
owned or controlled by the Government of Kuwait, directly or indirectly, of
any goods, technology (including technical data or other information), or
services either (i) from the United States, or (ii) requiring the issuance of a
license by a Federal agency, or any activity that promotes or is intended to
promote such exportation, except donations of articles intended to relieve
human suffering, such as food and supplies intended strictly for medical
purposes:
(c) Any dealing by a United States person related to property of Kuwaiti origin
exported from Kuwait after August 6, 1990, or property intended for exporta
tion from Kuwait to any country or exportation to Kuwait from any country, or
any activity of any kind that promotes or is intended to promote such dealing;
(d) Any transaction by a United States person relating to travel by any United
States citizen or permanent resident alien to Kuwait, or to activities by any
such person within Kuwait, after the date of this order, other than transactions
necessary to effect (i) such person’s departure from Kuwait, (ii) travel and
activities for the conduct of the official business of the Federal Government or
the United Nations, or (iii) travel for journalistic activity by persons regularly
employed in such capacity by a news-gathering organization;
(e) Any transaction by a United States person relating to transportation to or
from Kuwait; the provision of transportation to or from the United States by
any Kuwaiti person or any vessel or aircraft of Kuwaiti registration; or the
sale in the United States by any person holding authority under the Federal
Aviation Act of 1958, as amended (49 U.S.C. 1301 et seq.), of any transporta
tion by air that includes any stop in Kuwait;
33092
Federal Register / Vol. 55, No. 156 / Monday, August 13, 1990 / Presidential Documents
(f) The performance by any United States person of any contract, including a
financing contract, in support of an industrial, commercial, public utility, or
governmental project in Kuwait;
(g) Except as otherwise authorized herein, any commitment or transfer, direct
or indirect, of funds, or other financial or economic resources by any United
States person to the Government of Kuwait or any other person in Kuwait;
(h) Any transaction by any United States person that evades or avoids, or has
the purpose of evading or avoiding, any of the prohibitions set forth in this
order.
Sec. 3. For purposes of this order.
(a) the term “United States person" means any United States citizen, perma
nent resident alien, juridical person organized under the laws of the United
States (including foreign branches), or any person in the United States, and
vessels of U.S. registration.
(b) the term “Government of Kuwait” includes the Government of Kuwait or
any entity purporting to be the Government of Kuwait, its agencies, instrumen
talities and controlled entities, and the Central Bank of Kuwait.
Sec. 4. This order is effective immediately.
Sec. 5. 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, as may be necessary to carry out the purposes of this
order. Such actions may include prohibiting or regulating payments or trans
fers of any property or any transactions involving the transfer of anything of
economic value by any United States person to the Government of Kuwait, or
to any Kuwaiti national or entity owned or controlled, directly or indirectly,
by the Government of Kuwait or Kuwaiti nationals. The Secretary of the
Treasury may redelegate any of these functions to other officers and agencies
of the Federal Government. All agencies of the Federal Government are
directed to take all appropriate measures within their authority to carry out
the provisions of this order, including the suspension or termination of li
censes or other authorizations in effect as of the date of this order.
Sec. 6. Executive Order No. 12723 of August 2, 1990, is hereby revoked to the
extent inconsistent with this order. All delegations, rules, regulations, orders,
licenses, and other forms of administrative action made, issued, or otherwise
taken under Executive Order No. 12723 and not revoked administratively shall
remain in full force and effect under this order until amended, modified, or
terminated by proper authority. The revocation of any provision of Executive
Order No. 12723 pursuant to this section shall not affect any violation of any
rules, regulations, orders, licenses, or other forms of administrative action
under that order during the period that such provision of that order w as in
effect.
This order shall be transmitted to the Congress and published in the Federal
Register.
THE WHITE HOUSE,
|FR Doc. 90-19158
Filed 8- 10-80; 10*1 am)
Billing coda 3195-01-M
A ugust 9, 1990.
Editorial note: For the President's message to the Congress on the blockage of Kuwaiti Govern
ment property, see the Weekly Compilation o f Presidential Documents (vol. 26. no. 32).
@FedFRASER