[Federal Register Volume 75, Number 176 (Monday, September 13, 2010)]
[Rules and Regulations]
[Pages 55462-55463]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22548]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 575
Iraqi Sanctions Regulations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule.
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[[Page 55463]]
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (``OFAC'') is implementing Executive Order 13350 of July 29,
2004, which terminated the national emergency declared with respect to
Iraq in Executive Order 12722 of August 2, 1990, and revoked that and
subsequent Executive orders, by removing the Iraqi Sanctions
Regulations from the Code of Federal Regulations.
DATES: Effective Date: September 13, 2010.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Compliance,
Outreach & Implementation, tel.: 202/622-2490, Assistant Director for
Licensing, tel.: 202/622-2480, Assistant Director for Policy, tel.:
202/622-4855, or Chief Counsel (Foreign Assets Control), tel.: 202/622-
2410 (not toll free numbers).
SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This document and additional information concerning OFAC are
available from OFAC's Web site (http://www.treas.gov/ofac). Certain
general information pertaining to OFAC's sanctions programs also is
available via facsimile through a 24-hour fax-on-demand service, tel.:
202/622-0077.
Background
As a result of the removal of the regime of Saddam Hussein and
other developments in Iraq, the President issued Executive Order 13350
on July 29, 2004 (69 FR 46055, July 30, 2004). Executive Order 13350
terminated the national emergency declared with respect to Iraq in
Executive Order 12722 of August 2, 1990. In addition, Executive Order
13350 revoked Executive Order 12722, Executive Order 12724 of August 9,
1990, Executive Order 12743 of January 18, 1991, Executive Order 12751
of February 14, 1991, and Executive Order 12817 of October 21, 1992.
These Executive orders were all in furtherance of the national
emergency declared in Executive Order 12722.
In Executive Order 12722, the President ordered the blocking of all
property and interests in property that were in the United States or
that came within the possession or control of United States persons,
including overseas branches, of the Government of Iraq, its agencies,
instrumentalities, and controlled entities, and the Central Bank of
Iraq (55 FR 31803, August 3, 1990). Executive Order 12722 prohibited
the importation of any goods or services of Iraqi origin into the
United States and the exportation of any goods, technology, or services
from the United States to Iraq. Executive Order 12722 also prohibited
transactions relating to transportation and travel to or from Iraq by
United States citizens or permanent resident aliens. The subsequent
Executive orders took various additional steps with respect to the
situation in Iraq.
Section 207(a) of the International Emergency Economic Powers Act
(``IEEPA'') (50 U.S.C. 1706(a)) contains a provision that allows the
President to continue to prohibit transactions involving property in
which a foreign country or national thereof has an interest after a
national emergency has been terminated if the President determines that
the continuation of such a prohibition with respect to that property is
necessary on account of claims involving such country or its nationals.
Pursuant to section 207(a) of IEEPA, the President determined in
Section 1 of Executive Order 13350 that continuation of prohibitions
with regard to transactions involving property blocked pursuant to
Executive Orders 12722 or 12724 that continued to be blocked as of July
30, 2004, was necessary on account of claims involving Iraq. The new
Iraq Stabilization and Insurgency Sanctions Regulations, 31 CFR part
576, include a general license unblocking all remaining property
blocked pursuant to Section 1 of Executive Order 13350. See 31 CFR
576.510.
Please note that certain transactions relating to Iraq remain
subject to the Iraq Stabilization and Insurgency Regulations, 31 CFR
part 576, which implement Executive Order 13303 of May 22, 2003,
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.
Accordingly, OFAC is removing the Iraqi Sanctions Regulations (the
``Regulations'') in 31 CFR part 575. The removal of part 575 from 31
CFR chapter V does not affect ongoing enforcement proceedings or
prevent the initiation of enforcement proceedings where the relevant
statute of limitations has not run.
Executive Order 12866, Administrative Procedure Act, and Regulatory
Flexibility Act
Because the Regulations involve a foreign affairs function, the
provisions of Executive Order 12866 and the Administrative Procedure
Act (5 U.S.C. 553) requiring notice of proposed rulemaking, opportunity
for public participation, and delay in effective date are inapplicable.
Because no notice of proposed rulemaking is required for this rule, the
Regulatory Flexibility Act (5 U.S.C. 601-612) does not apply.
Paperwork Reduction Act
The Paperwork Reduction Act does not apply because this rule does
not impose information collection requirements that would require the
approval of the Office of Management and Budget under 44 U.S.C. 3501 et
seq.
List of Subjects in 31 CFR Part 575
Administrative practice and procedure, Banks, Banking, Blocking of
assets, Exports, Foreign trade, Imports, Iraq, Oil imports, Penalties,
Petroleum, Petroleum products, Reporting and recordkeeping
requirements, Specially designated nationals, Terrorism, Travel
restrictions.
PART 575--[REMOVED]
0
Pursuant to 50 U.S.C. 1701 et seq. and Executive Order 13350, the
Office of Foreign Assets Control amends 31 CFR chapter V by removing
part 575 for the reasons set forth in the preamble.
Dated: September 1, 2010.
Adam J. Szubin,
Director, Office of Foreign Assets Control, Department of the Treasury.
Approved: September 2, 2010.
Stuart A. Levey,
Under Secretary, Office of Terrorism and Financial Intelligence,
Department of the Treasury.
[FR Doc. 2010-22548 Filed 9-10-10; 8:45 am]
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