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To view or print the Microsoft Word content on this page, download the free Microsoft Word Viewer. May 7, 2003
2003-5-9-11-46-16-9421
Secretary Snow Announces Easing of U.S. Iraq Sanctions - Will Allow Vital Humanitarian and Reconstruction Related Activities
U.S. Treasury Secretary John Snow today announced that the United States is suspending aspects of the Iraqi sanctions regime to permit the export of vital humanitarian goods and services and cash remittances from individuals in the U.S. to Iraqis.
“The easing of U.S. sanctions will bring much needed aid and humanitarian relief to the Iraqi people as they begin the process of rebuilding their lives after more than two decades of brutal dictatorship,” Secretary Snow stated.
At the direction of Secretary Snow, the Treasury Department’s Office of Foreign Assets Control (OFAC) has issued four new general licenses that permit transactions important to the humanitarian needs of the Iraqi people without prior U.S. Government authorization.
Under the new rules, individuals in the U.S. may send remittances of up to $500 per month to any person in Iraq for non-commercial humanitarian purposes, such as money to support friends, loved ones, or others in need in Iraq. Also, all activities funded by the U.S. government in support of humanitarian assistance or reconstruction efforts in Iraq necessary to fulfill obligations under international law to provide for the welfare and security of the Iraqi people are permitted by the licenses. Private humanitarian activities, conducted by any U.S. person or organization, and more liberalized exportation of humanitarian related goods are also permitted so long as the U.N. Sanctions Committee is given notice, through the U.S. State Department, and an opportunity to object.
However, the export of certain goods, controlled for export to Iraq for national security purposes, will require a specific license and all frozen assets of Iraqi entities remain frozen. Regulations governing trade or travel with Iraq administered by other federal agencies are not affected by this action.
U.S. sanctions against Iraq were first established by President George H.W. Bush on August 2, 1990 under Executive Order 12722. Additional restrictions were put in place by the Iraq Sanctions Act, which was passed by Congress shortly after President Bush’s executive order and became effective November 5, 1990.
As the reconstruction of Iraq gets underway, these licenses will allow the flow of goods and services vital to the reconstruction process and will help meet the humanitarian needs of the Iraqi people as they begin their new lives in freedom.
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