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International Emergency Economic Powers Act

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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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Obama signed the Executive Order pursuant to the US International Emergency Economic Powers Act (IEEPA) enacted in 1977 to extend emergency powers previously granted to the American president by the Trading with the Enemy Act of 1917.
The US Attorney's office in Los Angeles said Sam Ching Sheng Lee, 63, and his nephew Charles Yu Hsu Lee, 31, were charged under the International Emergency Economic Powers Act, and face up to 25 years in federal prison if convicted.
The US Attorney's office in Los Angeles said Sam Ching Sheng Lee, 63, and his nephew Charles Yu Hsu Lee, 31, were charged under the International Emergency Economic Powers Act, and face up to 25 years in federal prison if convicted.
 
International Emergency Economic Powers Act
 
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