Vested and Seized Iraqi Property
Question: On what basis is the United States Government seizing and vesting assets ·
Iraq?
Answer:
• The President has confirmed the authority of the Department of Defense, under the
laws and usages of war, to seize, sell, administer or use state- or regime- owned
cash, funds or realizable securities found in Iraq. DoD will hold such property on
behalf of and for the benefit of the Iraqi people and use the property only to assist .
the Iraqi people and support the reconstruction of Iraq.
• The President, acting pursuant to the International Emergency Economic Powers
Act, confiscated and vested in the Secretary of the Treasury $1.7 billion in Iraqi
government assets to be used to assist the Iraqi people and to assist in the
reconstruction of Iraq. The Secretary of the Treasury subsequently designated the
Secretary of the Defense with the authority to use $91,648,000 of this property.
Questions: How are Iraqi assets being used?
Answer:
• In accordance with applicable law, regulations and procedures coordinated with
affected U.S Government entities, Iraqi government vested and seized assets are an
will be used only to assist the Iraqi people and support the reconstruction of Iraq.
Question: Who decides how the money is used?
• With regard to vested property, the President issued an executive order indicating that
$1.7 billion in Iraqi property confiscated in the United States would be used to assist th
Iraqi people and assist in the reconstruction of Iraq. The Secretary of the Treasury
subsequently designated the Secretary of the Defense with the authority to use
$91,648,000 of this property for the purposes specified in the executiv~ order.
• With regard to property seized in Iraq, the President recently confrrmed the authority o
the Secretary of Defense, under the laws and usages of war, to seize, sell, administer or
use state- or regime- owned cash, funds or realizable securities in Iraq to assist the Iraq·
people and support the reconstruction of Iraq.
• The Department of Defense is dedicated to working with other affected U.S
Government agencies to ensure that both vested and seized property is subjected to
rigorous procedures that ensure that such property is properly safeguarded, accounted

for, audited and used only to assist the Iraqi people and assist in the reconstruction of
Iraq.