Bush extends curbs under Trading with the Enemy Act
President George W. Bush has extended for one year prohibitions and restraints against certain countries under the U.S. Trading with the Enemy Act that were scheduled to terminate Tuesday.
Bush said it was 'in the national interest of the United States' to continue 'the exercise of those authorities with respect to countries affected by Foreign Assets Control Regulations, Transaction Control Regulations, and Cuban Assets Control Regulations.'
A Treasury Department spokesperson told Shippers' News Wire that out of 29 sanctions programs, Cuba is the only one where trading by U.S. citizens is totally forbidden. Other nations that have had sanctions imposed for transaction controls and foreign asset controls include the Balkans, Burma (Myanmar), Iran, Iraq, Liberia, Libya, North Korea, Sudan, Syria and Zimbabwe.
For details, see http://www.ustreas.gov/offices/enforcement/ofac/sanctions.