Ending Immunities Granted to the Development Fund for Iraq and Certain Other Iraqi Property and Interests in Property Pursuant to Executive Order 13303, as Amended
Headline: Ends Legal Protections for Iraq's Development Fund and Assets
What it does: Federal agencies must implement the termination of prior immunities, and the Treasury, with State, must issue rules and use legal authorities to carry out the order.
- Iraqi Development Fund and central bank assets can now face judgments or attachment.
- U.S. Treasury may issue rules affecting handling of Iraqi funds and accounts.
- U.S. agencies are directed to take measures to implement the change.
Summary
This order ends the legal protections that previously prevented suits or seizure of the Development Fund for Iraq, Iraqi oil and related assets, and Central Bank of Iraq accounts.
It directs the U.S. Treasury, working with the State Department, to issue rules and use legal powers to implement the change, and tells all federal agencies to take appropriate steps.
The order says this will not remove other legal immunities Iraq already has and does not create private rights against the U.S.
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