Well, on the face this will probably upset most of you. The fact is, it does not mean this will go without an RV until the expiration date. These EO's are done in 1 year terms as far as I know. We can see this at anytime, but nobody knows when. I'm posting this so everyone can see it, take it how you will but do not get negative attitudes based on this one thing. We knew we were going to have to see something related to this come out before July 1st. So here it is...
National Emergency with Respect to the Stabilization of Iraq to Continue for Full Year
Media Note
Office of the Spokesperson
Washington, DC
June 30, 2011
The United States has completed its evaluation of Iraq's ongoing efforts to finalize the full and effective transition to a post-Development Fund for Iraq mechanism by June 30, 2011. Recognizing positive developments in this regard, including progress in resolving outstanding debts and claims arising from actions of the previous regime, and in accordance with the President’s May 17, 2011 Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq, the President has determined to continue these arrangements for the full twelve month period ending on May 20, 2012. As a result, the prohibitions contained in Executive Order 13303 of May 22, 2003, as amended by Executive Order 13364 of November 29, 2004, on any attachment, judgment, decree, lien, execution, garnishment, or other judicial process with respect to the Development Fund for Iraq, the accounts, assets, and property held by the Central Bank of Iraq, and Iraqi petroleum-related products, which are in addition to the sovereign immunity accorded Iraq under otherwise applicable law, will remain in effect until May 20, 2012. Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime.
PRN: 2011/1088
ARTICLE LINK
Here is an Excerpt from wiki:
The primary effect of EO 13303 is the legal protection of US oil companies. EO 13303 is part of a broader endeavor by the Bush administration to exert control over Iraqi oil revenues. The plan centers on the Development Fund for Iraq, created by the United Nations and nominally controlled by the United States, with advice from the World Bank and the International Monetary Fund (IMF). The second part of the plan is EO 13303, providing absolute legal protection for US interests in Iraqi oil.
