Foreign policy and sanctions

Executive Order 13668: Ending Immunities Granted to the Development Fund for Iraq and Certain Other Iraqi Property and Interests in Property Pursuant to Executive Order 13303, as Amended

President: Barack Obama

Ended extraordinary protections that had shielded Iraqi reconstruction funds and petroleum proceeds from attachment in US courts.

Status: Completed/expired. Is Executive Order 13668 still in effect? No. Executive Order 13668 is completed or expired. See Federal Register record.

What does Executive Order 13668 do?

EO 13668 ended the special protections against attachment, judgment and similar judicial process that EO 13303, as amended, had provided for the Development Fund for Iraq, Iraqi petroleum interests and Central Bank of Iraq property. Treasury explained that the order did not end the wider Iraq-related national emergency or sanctions on specified former-regime and destabilizing actors. OFAC amended its regulations in 2017 to reflect the terminated protections.

Administration position: The order removed special executive immunities; it did not decide ownership of particular assets, satisfy creditor claims or end every Iraq-related sanction.
SignedMay 27, 2014
Earlier authorityEO 13303 as amended by EO 13364
Regulations amendedDecember 2017

Before and after

Before the order

Covered Iraqi funds and petroleum proceeds enjoyed unusual protection from attachment, judgment and judicial process.

After the order

The special protection ended and disputes became subject to ordinary applicable law and any other valid immunity.

Who had to do what

Agency / officeActionTiming / position
Treasury and executive agenciesCease applying the specified protectionsCompleted
Courts and litigantsApply ordinary law to later claimsContinuing
Iraqi institutionsManage successor funds without this US emergency shieldContinuing

What happened next

EO 13303 created the initial attachment protections.

EO 13364 amended those protections.

EO 13668 ended the specified protections.

OFAC conforming regulatory amendments took effect.