|FOR IMMEDIATE RELEASE||
BUREAU OF INDUSTRY AND SECURITY
| Thursday, November, 01, 2007
Office of Public Affairs
BIS Welcomes The International Emergency Economic Powers Enhancement Act Provisions
Under Secretary of Commerce for Industry and Security Mario Mancuso issued the following statement on the International Emergency Economic Powers (IEEPA) Enhancement Act signed into law by President Bush.
"We welcome the enhancements provided by Congress and President Bush,” said Under Secretary of Commerce for Industry and Security Mario Mancuso. “The new law provides significant additional support for our cases, which we intend to apply in an equitable, deliberative and rigorous way. Most important, we think the enhancements will better align incentives to improve overall compliance with our regulations."
The significant changes provided under the Act include:
On October 16, 2007, President Bush signed into law the International Emergency Economic Powers (IEEPA) Enhancement Act, Public Law No. 110-96, amending IEEPA section 206. The Act enhances administrative and criminal penalties that can be imposed under IEEPA and also amends IEEPA to clarify that civil penalties may be assessed for certain unlawful acts.