U.S. President George W. Bush on Tuesday issued a continuation on the state of national emergency on the stabilization of Iraq. Bush's statement came as a continuation of his Executive Order that was initially issued on May 22, 2003. The May order served to protect the Development Fund for Iraq and “certain other property in which Iraq has an interest, pursuant to the International Emergency Economic Powers Act,” Bush said. Bush said that he “took this action to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.” Bush said it was necessary to renew and amend the order in 2003, 2004, and 2007 “because [of] the obstacles to the orderly reconstruction of Iraq.” Because of these obstacles, the “the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States,” he said. It is for those reasons that Bush said the declaration must last at least one year beyond May 22, 2008.
