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International Emergency Economic Powers Act
(redirected from IEEPA)

   Also found in: Acronyms, Wikipedia 0.01 sec.
International Emergency Economic Powers Act
Legislation in the United States, passed in 1977, that allows the president to declare a national emergency in the event of a foreign threat to the U.S. After such a declaration, the president may embargo the country from which the threat originates, and may also freeze assets or conduct other activities to deal with the situation. The emergency declaration must be renewed every year to remain in effect, and Congress has the ability to rescind it.


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Assa was accused of "providing numerous services to Bank Melli in contravention of IEEPA and the Iranian Transactions Regulations promulgated thereunder.
The charge of conspiracy carries a potential sentence of five years in prison, while smuggling carries a potential 10-year prison term, AECA carries a potential 10-year prison term, money laundering carries a potential 20-year prison term and IEEPA carries a potential 20-year prison term.
Though the IEEPA framework does not expressly prohibit the provision of one's own self as "personnel" in the service of a blocked entity, the statute has been construed by the executive branch to allow for executive orders that prohibit the provision of "services" to designated entities.
 
 
 
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