ExecutiveOrdersEO
EO 13315Executive OrderG.W. Bush · R

Executive Order 13315

Blocking Property of the Former Iraqi Regime, Its Senior Officials and Their Family Members, and Taking Certain Other Actions

This executive order expands a national emergency to block and confiscate property of the former Saddam Hussein regime, its senior officials, and their family members located in the U.S. or controlled by U.S. persons. Confiscated assets are to be transferred to the Development Fund for Iraq to support humanitarian needs, reconstruction, and civilian administration. The order takes effect immediately and authorizes the Treasury Secretary to designate additional targeted persons without prior notice.

Federal Register Open PDF 68 FR 52315

Impact dates

  1. Order effective at 12:01 a.m. EDT

Key directives

  • Block all property of former Iraqi regime, senior officials, and family members in U.S. or controlled by U.S. persons (Section 1)
  • Confiscate property linked to armed hostilities against U.S. and transfer to Development Fund for Iraq (Section 2)
  • Prohibit evasion transactions and conspiracies (Section 3)
  • Authorize Treasury Secretary to designate additional persons without prior notice (Section 6)
  • Treasury Secretary to promulgate rules and regulations (Section 7)
  • Authorize subsequent delisting determinations (Section 8)

Who is ordered

Timeline

Immediate

  • Blocking of property takes effect at 12:01 a.m. EDT August 29, 2003
  • All listed persons' U.S. assets frozen
  • Confiscation authority activated for property linked to armed hostilities against U.S.

Near term (90d)

  • Treasury/State designation of additional persons under Section 1(b)
  • Promulgation of implementing regulations
  • Transfer of confiscated property to Development Fund for Iraq

Long term

  • Ongoing asset identification and confiscation
  • Development Fund for Iraq disbursements for reconstruction
  • Potential delisting determinations under Section 8
  • Precedent for post-conflict asset seizure frameworks

Risks & tensions

  • No prior notice requirement (Section 6) raises due process concerns for designated persons
  • Vague 'controlled entities' and 'acting for or on behalf of' standards create compliance uncertainty for U.S. financial institutions
  • Confiscation authority tied to 'armed hostilities' determination lacks clear evidentiary threshold in text
  • Transfer to Development Fund for Iraq assumes functional Iraqi banking infrastructure amid occupation
  • Potential tension with coalition authority jurisdiction (Section 10 carve-out)
Executive Order 13315: Blocking Property of the Former Iraqi Regime, Its Senior Officials and Their Family Members, and Taking Certain Other Actions · Executive Orders