Also found in: Financial.
IEEPAInternational Emergency Economic Powers Act of 1977 (presidential emergency action permission)
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Jennifer Hillman, a professor at Georgetown University's School of Law and a former general counsel in the office of the US Trade Representative, said on Twitter that she does not believe that Trump can invoke the IEEPA because he hasn't met the "prerequisites."
In May, President Trump threatened to impose tariffs on all goods from Mexico, the United States third-largest trading partner, under the IEEPA for issues unrelated to trade.
Congress enacted IEEPA in 1977 in a post-Watergate effort to constrain Presidential action under the Trading with the Enemy Act of 1917 ("TWEA").
In response to the hostage crisis, President Carter blocked the sale of Iranian oil and prevented any transfer of Iranian deposits "in American banks, both in the United States and abroad." (69) In addition, President Carter used the power granted to him under the IEEPA to negotiate the release of the U.S.
In 1995, President Clinton issued a series of Executive Orders pursuant to the International Emergency Economic Powers Act ("IEEPA"), declaring the Government of Iran a threat to national security and imposing broad financial sanctions.
However, Section 601 is also explicit on the point that the president must use his authorities from IEEPA to "carry out" the terms and provisions of ITRA itself, including Section 218--which mandated that, before this form of sanctions relief can be granted, Iran must be removed from the State Department's terror list.
In the last five years, there have been seven investigations of banks for allegedly violating trade sanctions by failing to comply with the Trading with the Enemy Act of 1917 ("TWEA") and the International Emergency Economic Powers Act ("IEEPA").
On the other hand, because the President holds sole authority to renew, alter, and revoke executive orders he issues pursuant to the National Emergencies Act (NEA) and the International Emergency Economic Powers Act (IEEPA), Table 2 includes actions taken that are specific to Iran and also actions taken that are not specific to Iran (e.g., Executive Order 13224 and 13382 target terrorists and proliferators, respectively) but have been applied to that country.
A statement from the DOJ said the bank had 'agreed to enter a guilty plea to conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) by processing billions of dollars of transactions through the US financial system on behalf of Sudanese, Iranian, and Cuban entities subject to US economic sanctions'.
"According to the Indictment, he (Li) controls a large network of front companies and allegedly uses this network to move millions of dollars through U.S.-based financial institutions to conduct business in violation of the International Emergency Economic Powers Act (IEEPA) and the Weapons of Mass Destruction Proliferators Sanctions Regulations, which prohibit such financial transactions," the State
Besides the above, the International Emergency Economic Powers Act ("IEEPA"), Title II of Public Law No.