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Message to the Congress of the United States
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For Immediate Release Office of the Press Secretary June 26, 2008

Message to the Congress of the United States

˙˙White House News

TO THE CONGRESS OF THE UNITED STATES:

˙˙˙˙ Pursuant to the International Emergency Economic Powers Act, as
amended (50˙U.S.C. 1701 et seq.) (IEEPA), I hereby report that I have
issued an Executive Order continuing certain restrictions on North˙Korea
and North˙Korean nationals imposed pursuant to the exercise of authorities
under the Trading With the Enemy Act (50˙U.S.C. App. 1˙et seq.) (TWEA). ˙In
the order, I declared a national emergency to deal with the unusual and
extraordinary threat to the national security and foreign policy of the
United˙States posed by the current existence and risk of˙the proliferation
of weapons-usable fissile material on the˙Korean Peninsula. ˙I ordered the
continuation of certain restrictions on North Korea and North Korean
nationals as we˙deal with that threat through multilateral diplomacy.

˙˙˙˙ These restrictions were first imposed pursuant to authorities found in
section˙5(b) of TWEA, following the declaration of a national emergency in
1950 in Proclamation˙2914 (15˙FR 9029), and continued annually, after the
enactment of IEEPA in 1977, in accordance with section˙101(b) of Public
Law˙95-223 (91˙Stat. 1625; 50˙U.S.C. App.˙5(b) note). ˙The most˙recent
continuation of such TWEA authorities is found in˙Presidential
Determination˙2007-32 of September˙13, 2007. ˙In˙a˙proclamation, which I
signed the same day as the order, I˙terminated, effective the following
day, the exercise of TWEA˙authorities with respect to North˙Korea.

˙˙˙˙ The order I have issued continues the blocking of certain property and
interests in property of North˙Korea or a North˙Korean national that were
blocked as of June˙16, 2000, and˙that remained blocked immediately prior to
the date of my order. ˙Absent this order, my proclamation terminating the
exercise of TWEA authorities with respect to North˙Korea would have
resulted in the unblocking of that property.

˙˙˙˙ The order also continues restrictions relating to North˙Korea-flagged
vessels that would otherwise have been terminated by my proclamation.
˙These restrictions prohibit United˙States persons from owning, leasing,
operating, or insuring any vessel flagged by North˙Korea and from
registering vessels in North˙Korea or otherwise obtaining authorization for
a vessel to fly the North˙Korean flag. ˙For the reasons set forth above, I
found that it was necessary to continue these restrictions.

˙˙˙˙ I delegated to the Secretary of the Treasury, after consultation with
the Secretary of State, the authority 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 my
order.

˙˙˙˙ I am enclosing a copy of the Executive Order and proclamation I have
issued.

GEORGE W. BUSH

THE WHITE HOUSE,

June 26, 2008.

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