Emergency Powers
The emergency powers granted to the President under Section 1702 of the IEEPA statute include the following:
Investigate, regulate or prohibit:
any transactions in foreign exchange;
transfers of credit or payment by, between, through, or to any banking institutions, to the extent that such transfers or payments involve any interest of any foreign country or foreign national;
the importing or exporting of currency or securities.
The President may also:
Investigate, block during the pendency of an investigation, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisition, holding, withholding, use, transfer, withdrawal, transportation, importation or exportation of, or dealing in, or exercising any right, power, or privilege with respect to, or transactions involving, any property in which any foreign country or a national thereof has any interest by any person, or with respect to any property, subject to the jurisdiction of the United States.
And when the United States is engaged in armed hostilities or has been attacked by a foreign country or foreign nationals, the President may:
Confiscate any property, subject to the jurisdiction of the United States, of any foreign person, foreign organization, or foreign country that the President determines has planned, authorized, aided, or engaged in such hostilities or attacks against the United States.
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