24 September 2001
Text: Bush Executive Order on Freezing Terrorist Assets
(Bush freezes terrorist financing) (2000)
President Bush has issued an executive order to block all U.S.
property of terrorists and their supporters and to prohibit all
transactions with them in the United States.
In the order issued September 24, Bush has frozen all U.S. assets of
terrorists, terrorist organizations, and their sponsors and
associates, and banned all financial dealings with them. The
prohibited transactions include making contributions and donations to
or for the benefit of terrorists.
The ban on financial dealings with terrorists applies to U.S.
citizens, permanent residents, and any business and other
organizations in the United States including their foreign branches.
The order also says the U.S. may impose financial sanctions on foreign
nationals or organizations supporting terrorists, associated with
them, or refusing to freeze terrorist assets.
Bush has ordered the State and Treasury departments to cooperate and
coordinate with other countries in striking at the financial
foundations of global terrorism.
Following is the text of the President's Executive Order:
Office of the Press Secretary
September 24, 2001
Blocking Property and Prohibiting Transactions With
Persons Who Commit, Threaten to Commit, or Support Terrorism
By the authority vested in me as President by the Constitution and the
laws of the United States of America, including the International
Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)(IEEPA), the
National Emergencies Act (50 U.S.C. 1601 et seq.), section 5 of the
United Nations Participation Act of 1945, as amended (22 U.S.C. 287c)
(UNPA), and section 301 of title 3, United States Code, and in view of
United Nations Security Council Resolution (UNSCR) 1214 of December 8,
1998, UNSCR 1267 of October 15, 1999, UNSCR 1333 of December 19, 2000,
and the multilateral sanctions contained therein, and UNSCR 1363 of
July 30, 2001, establishing a mechanism to monitor the implementation
of UNSCR 1333,
I, GEORGE W. BUSH, President of the United States of America, find
that grave acts of terrorism and threats of terrorism committed by
foreign terrorists, including the terrorist attacks in New York,
Pennsylvania, and the Pentagon committed on September 11, 2001, acts
recognized and condemned in UNSCR 1368 of September 12, 2001, and
UNSCR 1269 of October 19, 1999, and the continuing and immediate
threat of further attacks on United States nationals or the United
States constitute an unusual and extraordinary threat to the national
security, foreign policy, and economy of the United States, and in
furtherance of my proclamation of September 14, 2001, Declaration of
National Emergency by Reason of Certain Terrorist Attacks, hereby
declare a national emergency to deal with that threat.
I also find that because of the pervasiveness and expansiveness of the
financial foundation of foreign terrorists, financial sanctions may be
appropriate for those foreign persons that support or otherwise
associate with these foreign terrorists.
I also find that a need exists for further consultation and
cooperation with, and sharing of information by, United States and
foreign financial institutions as an additional tool to enable the
United States to combat the financing of terrorism.
I hereby order:
Section 1. Except to the extent required by section 203(b) of IEEPA
(50 U.S.C. 1702(b)), or provided in regulations, orders, directives,
or licenses that may be issued pursuant to this order, and
notwithstanding any contract entered into or any license or permit
granted prior to the effective date of this order, all property and
interests in property of the following persons that are in the United
States or that hereafter come within the United States, or that
hereafter come within the possession or control of United States
persons are blocked:
(a) foreign persons listed in the Annex to this order;
(b) foreign persons determined by the Secretary of State, in
consultation with the Secretary of the Treasury and the Attorney
General, to have committed, or to pose a significant risk of
committing, acts of terrorism that threaten the security of U.S.
nationals or the national security, foreign policy, or economy of the
(c) persons determined by the Secretary of the Treasury, in
consultation with the Secretary of State and the Attorney General, to
be owned or controlled by, or to act for or on behalf of those persons
listed in the Annex to this order or those persons determined to be
subject to subsection 1(b), 1(c), or 1(d)(i) of this order;
(d) except as provided in section 5 of this order and after such
consultation, if any, with foreign authorities as the Secretary of
State, in consultation with the Secretary of the Treasury and the
Attorney General, deems appropriate in the exercise of his discretion,
persons determined by the Secretary of the Treasury, in consultation
with the Secretary of State and the Attorney General;
(i) to assist in, sponsor, or provide financial, material, or
technological support for, or financial or other services to or in
support of, such acts of terrorism or those persons listed in the
Annex to this order or determined to be subject to this order; or
(ii) to be otherwise associated with those persons listed in the Annex
to this order or those persons determined to be subject to subsection
1(b), 1(c), or 1(d)(i) of this order.
Sec. 2. Except to the extent required by section 203(b) of IEEPA (50
U.S.C. 1702(b)), or provided in regulations, orders, directives, or
licenses that may be issued pursuant to this order, and
notwithstanding any contract entered into or any license or permit
granted prior to the effective date:
(a) any transaction or dealing by United States persons or within the
United States in property or interests in property blocked pursuant to
this order is prohibited, including but not limited to the making or
receiving of any contribution of funds, goods, or services to or for
the benefit of those persons listed in the Annex to this order or
determined to be subject to this order;
(b) any transaction by any United States person or within the United
States that evades or avoids, or has the purpose of evading or
avoiding, or attempts to violate, any of the prohibitions set forth in
this order is prohibited; and
(c) any conspiracy formed to violate any of the prohibitions set forth
in this order is prohibited.
Sec. 3. For purposes of this order:
(a) the term "person" means an individual or entity;
(b) the term "entity" means a partnership, association, corporation,
or other organization, group, or subgroup;
(c) the term "United States person" means any United States citizen,
permanent resident alien, entity organized under the laws of the
United States (including foreign branches), or any person in the
United States; and
(d) the term "terrorism" means an activity that --
(i) involves a violent act or an act dangerous to human life,
property, or infrastructure; and
(ii) appears to be intended --
(A) to intimidate or coerce a civilian population;
(B) to influence the policy of a government by intimidation or
(C) to affect the conduct of a government by mass destruction,
assassination, kidnapping, or hostage-taking.
Sec. 4. I hereby determine that the making of donations of the type
specified in section 203(b)(2) of IEEPA (50 U.S.C. 1702(b)(2)) by
United States persons to persons determined to be subject to this
order would seriously impair my ability to deal with the national
emergency declared in this order, and would endanger Armed Forces of
the United States that are in a situation where imminent involvement
in hostilities is clearly indicated by the circumstances, and hereby
prohibit such donations as provided by section 1 of this order.
Furthermore, I hereby determine that the Trade Sanctions Reform and
Export Enhancement Act of 2000 (title IX, Public Law 106-387) shall
not affect the imposition or the continuation of the imposition of any
unilateral agricultural sanction or unilateral medical sanction on any
person determined to be subject to this order because imminent
involvement of the Armed Forces of the United States in hostilities is
clearly indicated by the circumstances.
Sec. 5. With respect to those persons designated pursuant to
subsection 1(d) of this order, the Secretary of the Treasury, in the
exercise of his discretion and in consultation with the Secretary of
State and the Attorney General, may take such other actions than the
complete blocking of property or interests in property as the
President is authorized to take under IEEPA and UNPA if the Secretary
of the Treasury, in consultation with the Secretary of State and the
Attorney General, deems such other actions to be consistent with the
national interests of the United States, considering such factors as
he deems appropriate.
Sec. 6. The Secretary of State, the Secretary of the Treasury, and
other appropriate agencies shall make all relevant efforts to
cooperate and coordinate with other countries, including through
technical assistance, as well as bilateral and multilateral agreements
and arrangements, to achieve the objectives of this order, including
the prevention and suppression of acts of terrorism, the denial of
financing and financial services to terrorists and terrorist
organizations, and the sharing of intelligence about funding
activities in support of terrorism.
Sec. 7. The Secretary of the Treasury, in consultation with the
Secretary of State and the Attorney General, 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 and UNPA as may be necessary to carry out the purposes of this
The Secretary of the Treasury may redelegate any of these functions to
other officers and agencies of the United States Government.
All agencies of the United States Government are hereby directed to
take all appropriate measures within their authority to carry out the
provisions of this order.
Sec. 8. Nothing in this order is intended to affect the continued
effectiveness of any rules, regulations, orders, licenses, or other
forms of administrative action issued, taken, or continued in effect
heretofore or hereafter under 31 C.F.R. chapter V, except as expressly
terminated, modified, or suspended by or pursuant to this order.
Sec. 9. Nothing contained in this order is intended to create, nor
does it create, any right, benefit, or privilege, substantive or
procedural, enforceable at law by a party against the United States,
its agencies, officers, employees or any other person.
Sec. 10. For those persons listed in the Annex to this order or
determined to be subject to this order who might have a constitutional
presence in the United States, I find that because of the ability to
transfer funds or assets instantaneously, prior notice to such persons
of measures to be taken pursuant to this order would render these
measures ineffectual. I therefore determine that for these measures to
be effective in addressing the national emergency declared in this
order, there need be no prior notice of a listing or determination
made pursuant to this order.
Sec. 11. (a) This order is effective at 12:01 a.m. eastern daylight
time on September 24, 2001.
(b) This order shall be transmitted to the Congress and published in
the Federal Register.
GEORGE W. BUSH
THE WHITE HOUSE,
September 23, 2001.
Al Qaida/Islamic Army
Abu Sayyaf Group
Armed Islamic Group (GIA)
Harakat ul-Mujahidin (HUM)
Al-Jihad (Egyptian Islamic Jihad)
Islamic Movement of Uzbekistan (IMU)
Salafist Group for Call and Combat (GSPC)
Libyan Islamic Fighting Group
Al-Itihaad al-Islamiya (AIAI)
Islamic Army of Aden
Usama bin Laden
Muhammad Atif (aka, Subhi Abu Sitta,
Abu Hafs Al Masri)
Shaykh Sai'id (aka, Mustafa Muhammad Ahmad)
Abu Hafs the Mauritanian (aka, Mahfouz Ould al-Walid, Khalid Al-
Ibn Al-Shaykh al-Libi
Abu Zubaydah (aka, Zayn al-Abidin Muhammad Husayn, Tariq)
Abd al-Hadi al-Iraqi (aka, Abu Abdallah)
Thirwat Salah Shihata
Tariq Anwar al-Sayyid Ahmad (aka, Fathi, Amr al-Fatih)
Muhammad Salah (aka, Nasr Fahmi Nasr Hasanayn)
Makhtab Al-Khidamat/Al Kifah
Wafa Humanitarian Organization
Al Rashid Trust
Mamoun Darkazanli Import-Export Company
(Distributed by the Office of International Information Programs, U.S.
Department of State. Web site: http//usinfo.state.gov)
Join the GlobalSecurity.org mailing list