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.
References in periodicals archive ?
IEEPA gave the president authority to apply financial sanctions in response to an unusual or extraordinary threat to our national security.
20, 2014) ("The Secretary of the Treasury, in consultation with the Secretary of State, is hereby authorized to take such actions, including the promulgation of rules and regulations, and to employ all powers granted to the President by IEEPA, as may be necessary to carry out the purposes of this order.").
On December 17, 2008, the United States filed a civil action in the Southern District of New York seeking forfeiture of property owned by Assa and Bank Melli based on violations of the IEEPA, 50 U.S.C.
(21) TWEA's broad language was supplemented with the passage of IEEPA in 1977.
1605(c) Nonproliferation The President may exercise IEEPA authorities, excluding instances of "urgent humanitarian assistance," toward the foreign country.
The bank will waive indictment and be charged in a one-count felony criminal information, filed in federal court in the Southern District of New York, charging BNP Paribas with knowingly and willfully conspiring to commit violations of IEEPA and TWEA, from 2004 through 2012.
IEEPA criminal penalties can reach $500,000 for corporations and $250,000 for individuals,56 and 20 years imprisonment per violation and the civil penalties can reach the greater of $250,000 per violation, or twice the amount of the transaction that is the basis of the violation.
International Emergency Economic Powers Act (IEEPA), which allowed him to block Iranian assets subject to U.S.
Buretta oversaw nearly 600 prosecutors on complex matters involving corporate fraud, FCPA, insider trading, health care fraud, money laundering, IEEPA, asset forfeiture, cybercrime, intellectual property, public corruption and other criminal investigations.