On June 26, 2008, the President issued Executive Order 13466 (“E.O. 13466”), pursuant to the International Emergency Economic Powers Act (“IEEPA”). In E.O. 13466, the President declared a national emergency to deal with the threat to the national security and foreign policy of the United States constituted by the current existence and risk of the proliferation of weapons-usable fissile material on the Korean Peninsula, and continued certain restrictions with respect to North Korea that had been imposed under the authority of the Trading With the Enemy Act (“TWEA”). Also on June 26, 2008, the President signed Proclamation 8271, terminating the application of TWEA authorities with respect to North Korea, effective June 27, 2008. The Foreign Assets Control Regulations, 31 C.F.R. part 500, to the extent they were promulgated under TWEA authority, are therefore no longer in force with respect to North Korea.
On August 30, 2010, the President issued Executive Order 13551 (“E.O. 13551”) pursuant to IEEPA and the United Nations Participation Act (the “UNPA”), expanding the scope of the national emergency declared in E.O. 13466 and adding new restrictions.
On April 18, 2011, the President issued Executive Order 13570 (“E.O. 13570”), pursuant to IEEPA and the UNPA, to take additional steps to address the national emergency declared in E.O. 13466 and expanded in E.O. 13551 that will ensure implementation of the import restrictions contained in United Nations Security Council Resolution (“UNSCR”) 1718 of October 14, 2006, and UNSCR 1874 of June 12, 2009, and complement the import restrictions provided for in the Arms Export Control Act (22 U.S.C. 2751 et seq.).