White House Iraq Sanctions Renewal


On May 21, White House ordered continued OFAC Iraq sanctions.


  • White House continued for one year, a national emergency and sanctions against Iraq.
  • Renewal Rationale
  • By Executive Order 13303 of 2003, a national emergency was declared due to obstacles to orderly reconstruction, restoring and keeping of peace and security in Iraq
  • These obstacles and those re development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to US.
  • Effectiveness
  • National emergency to continue in effect beyond May 22, 2020, for an additional year.
  • May 6, 2021 White House Continuation
  • On May 6, 2021, White House notified of continuation of national emergency re Iraq.
  • National emergency respecting stabilization of Iraq declared in EO 13303 of May 22, 2003, will continue in effect beyond May 22, 2021 for an additional year, to May 2022.
  • May 10, 2021 Federal Register
  • On May 10, 2021, White House published notice of continuation in the federal register.
  • May 2022 White House Continuation
  • On May 11, 2022, White House published notice of continuation of national emergency regarding stabilization of Iraq; renewed corresponding sanctions to May 22, 2023.
  • May 2023 White House Continuation
  • On May 17, 2023, White House published notice of continuation of national emergency re stabilization of Iraq; renewed corresponding sanctions for 1 year to May 22, 2024.

Regulators OFAC; White House
Entity Types B/D; Bank; Corp; Ins; MSB; Thrift
Reference 88 FR 31601, 5/17/2023; Nt, 5/16/2023; 87 FR 29021, 5/11/2022; PR, Lt 5/9/2022; 86 FR 25797, 5/10/2021; PR, Lt, 5/6/2021; 85 FR 31033, 5/21/2020; EO 13303
Functions AML; Anti-Bribery; Compliance; Financial; Operations; Reporting; Sanctions
Countries Iraq, Republic of; United States of America; Cross-Border
Category
State
Products Banking; Deposits; Insurance; Loan; Mortgage; Payments; Securities
Regions Am
Rule Type Final
Rule Date 5/21/2020
Effective Date 5/22/2024
Rule Id 78217
Linked to N/A
Reg. Last Update 5/17/2023
Report Section AML & Enforcement

Last substantive update on 05/19/2023