§1707 — Title 50 War and National Defense | U.S. Code

Summary

When U.S. forces begin fighting a foreign country, the President must seek an international economic embargo and try to seize that country's money and assets held abroad. If the fighting lasts 14 days, then within 20 days after it starts the President must report to Congress what steps have been taken and will be taken to create the embargo and seize assets, and name foreign trade or revenue that helps the enemy government keep fighting.

Title 50, §1707

War and National Defense — Source: USLM XML via OLRC

(a)It is the policy of the United States, that upon the use of the Armed Forces of the United States to engage in hostilities against any foreign country, the President shall, as appropriate—

(1)seek the establishment of a multinational economic embargo against such country; and

(2)seek the seizure of its foreign financial assets.

(b)Not later than 20 days after the first day of the engagement of the United States in hostilities described in subsection (a), the President shall, if the armed conflict has continued for 14 days, submit to Congress a report setting forth—

(1)the specific steps the United States has taken and will continue to take to establish a multinational economic embargo and to initiate financial asset seizure pursuant to subsection (a); and

(2)any foreign sources of trade or revenue that directly or indirectly support the ability of the adversarial government to sustain a military conflict against the United States.

Editorial Notes

Codification Section was enacted as part of the National Defense Authorization Act for Fiscal Year 2000, and not as part of the International Emergency Economic Powers Act which comprises this chapter.

§1707 Multinational Economic Embargoes Against Governments in Armed Conflict with the United States

Summary

Title 50, §1707

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata