International Emergency Economic Powers Act (IEEPA)

📌 Link to the Text of the Act

Read the statute (50 U.S.C. §§ 1701–1707)

📌 Why It Was Done

Congress passed IEEPA to give the President authority to regulate commerce and block assets during declared national emergencies originating outside the United States, especially threats involving foreign states or actors.

📌 Pre-existing Law or Constitutional Rights

IEEPA replaced parts of the Trading with the Enemy Act (1917), which was considered too broad for peacetime use. The National Emergencies Act (1976) provided the framework within which IEEPA operates.

📌 Overreach or Proper Role?

Critics argue IEEPA gives presidents too much unilateral power, as national emergency declarations are often renewed indefinitely. Supporters claim it is essential for rapid response to foreign threats.

📌 Who or What It Controls

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  The President and executive agencies (especially Treasury’s OFAC)
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  Individuals, businesses, and financial institutions subject to U.S. jurisdiction
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  Foreign actors targeted by sanctions

📌 Key Sections / Citations

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  50 U.S.C. §§ 1701–1707

📌 Recent Changes or Live Controversies

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  Extensively used for sanctions on countries (e.g., Iran, Russia, North Korea) and non-state actors (terrorist groups, cybercriminals)
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  Ongoing debate about reforming the National Emergencies Act to rein in prolonged emergency powers

📌 Official Sources

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  U.S. Code – Title 50, Chapter 35
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  Treasury OFAC – Sanctions Programs