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International Emergency Economic Powers Act

Overview#

International Emergency Economic Powers Act (IEEPA), Title II of Public Law 95–223, 91 Stat. 1626, U.S.C. Title 50, §§1701–1707 enacted October 28, 1977, is a United States Federal Law authorizing the President of the United States of America to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole or substantial part outside the United States.

International Emergency Economic Powers Act is part of Export restrictions United States Federal Laws

International Emergency Economic Powers Act further authorizes the President of the United States of America, after such a declaration, to block transactions and freeze assets to deal with the threat. In the event of an actual attack on the United States, the President of the United States of America can also confiscate property connected with a country, group, or person that aided in the attack.

International Emergency Economic Powers Act falls under the provisions of the National Emergencies Act (NEA), which means that an emergency declared under the act must be renewed annually to remain in effect.

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