Order Text:
By the authority vested in me as President by the Constitution and the lawsof the United States of America, including the International EmergencyEconomic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the NationalEmergencies Act (50 U.S.C. 1601 et seq.) (NEA), and section 301 of title 3,United States Code,
I, GEORGE W. BUSH, President of the United States of America, find that thecurrent existence and risk of the proliferation of weapons-usable fissilematerial on the Korean Peninsula constitute an unusual and extraordinarythreat to the national security and foreign policy of the United States,and I hereby declare a national emergency to deal with that threat. Ifurther find that, as we deal with that threat through multilateraldiplomacy, it is necessary to continue certain restrictions with respect toNorth Korea that would otherwise be lifted pursuant to a forthcomingproclamation that will terminate the exercise of authorities under theTrading With the Enemy Act (50 U.S.C. App. 1 et seq.) (TWEA) with respectto North Korea.
Accordingly, I hereby order:
Section 1. Except to the extent provided in statutes or in regulations,orders, directives, or licenses that may be issued pursuant to this order,and notwithstanding any contract entered into or any license or permitgranted prior to the date of this order, the following are blocked and maynot be transferred, paid, exported, withdrawn, or otherwise dealt in:
all property and interests in property of North Korea or a North Koreannational that, pursuant to the President's authorities under the TWEA, the exercise of which has been continued in accordance with section 101(b) of Public Law 95-223 (91 Stat.1625; 50 U.S.C. App. 5(b) note), were blocked as of June 16, 2000, andremained blocked immediately prior to the date of this order.
Sec. 2. Except to the extent provided in statutes or in regulations,orders, directives, or licenses that may be issued pursuant to this order,and notwithstanding any contract entered into or any license or permitgranted prior to the date of this order, United States persons may notregister a vessel in North Korea, obtain authorization for a vessel to flythe North Korean flag, or own, lease, operate, or insure any vessel flaggedby North Korea.
Sec. 3. (a) Any transaction by a United States person or within theUnited States that evades or avoids, has the purpose of evading oravoiding, or attempts to violate any of the prohibitions set forth in thisorder is prohibited.
(b) Any conspiracy formed to violate any of the prohibitions set forth inthis order is prohibited.
Sec. 4. For the purposes of this order:
(a) the term "person" means an individual or entity;
(b) the term "entity" means a partnership, association, trust, jointventure, corporation, group, subgroup, or other organization; and
(c) the term "United States person" means any United States citizen,permanent resident alien, entity organized under the laws of the UnitedStates or any jurisdiction within the United States (including foreignbranches), or any person in the United States.
Sec. 5. The Secretary of the Treasury, after consultation with theSecretary of State, is hereby authorized to take such actions, includingthe promulgation of rules and regulations, and to employ all powers granted to the President by IEEPA as may benecessary to carry out the purposes of this order. The Secretary of theTreasury may redelegate any of these functions to other officers andagencies of the United States Government consistent with applicable law. All agencies of the United States Government are hereby directed to takeall appropriate measures within their authority to carry out the provisionsof this order.
Sec. 6. The Secretary of the Treasury, after consultation with theSecretary of State, is hereby authorized to submit the recurring and finalreports to the Congress on the national emergency declared in this order,consistent with section 401(c) of the NEA (50 U.S.C. 1641(c)) and section204(c) of IEEPA (50 U.S.C. 1703(c)).
Sec. 7. This order is not intended to, and does not, create any right orbenefit, substantive or procedural, enforceable at law or in equity by anypartyagainst the United States, its departments, agencies, instrumentalities, orentities, its officers or employees, or any other person.
GEORGE W. BUSH
