[Degenret]

Obama declares National Emergency and issues E.O. against Russian assets - National Finance Examiner | Examiner.com

"
On June 25, President Barack Obama issued a letter to the Speaker of the House of Representatives, and to the President of the Senate stating that under the International Emergency Economic Powers Act, he was declaring a National Emergency due to actions incurred with Russia, and the Russian Federation. The submitted letter provides a declaration to Congress of the President signing Executive Order (E.O.) 13159, and its immediate implementation.
Under this National Emergency and Executive Order, the United States is seizing assets and property owned or managed by the Russian Federation relating to nuclear items and programs tied to Highly Enriched Uranium (HEU).
Pursuant to section 204(b) of the International Emergency Economic Powers Act (IEEPA), 50 U.S.C. 1703(b), I hereby report that I have exercised my authority to declare a national emergency to deal with the threat posed to the United States by the risk of nuclear proliferation created by the accumulation in the Russian Federation of a large volume of weapons-usable fissile material.
The United States and the Russian Federation had entered into a series of agreements that provide for the conversion of highly enriched uranium (HEU) extracted from Russian nuclear weapons into low enriched uranium (LEU) for use in commercial nuclear reactors. There were concerns that payments due to the Russian Federation under these agreements may be subject to attachment, garnishment, or other judicial process, in the United States, which could put implementation of such agreements at risk. In Executive Order 13159, the President therefore ordered blocked all property and interests in property of the Government of the Russian Federation directly related to the implementation of the HEU Agreements so that it would be protected from the threat of attachment, garnishment, or other judicial process"

 

[guygus3516]

Huh?

 

[Degenret]

I still can't figure out exactly where this confiscation can take place but it is sure to piss off the ruskies.

 

[Lord Timelord]

This actually looks like a safeguard that was written up back in the Clinton Presidental Term. Read this one comment that was posted on that link:

"Jason DiLuzio I think you have completely misunderstood this Executive Order. It is not an asset seizure or confiscation of any kind. This order is actually PROTECTING russian assets from liens and judgments placed against them. Basically, Russia is sitting on a boat-load of Highly Enriched uranium (HEU). The US and Russia came to an agreement where Russia agreed to reprocess the HEU into Low Enriched Uranium (LEU), which de-weaponizes it while making it suitable for use in US reactors. Russia then ships the LEU to the US in exchange for cash and something called uranium hexafluoride (Hex), which is used in the reprocessing process. What this E.O. does is protect the cash payments and Hex that is going to Russia from seizure by US creditors. This is presumably because if we stop supplying the substances and money needed to de-weaponize the HEU, then Russia will stop reprocessing it. Which I think most would agree, is a bad thing."

Looks like the pres finally did something CORRECT for once!

I remember after the Berlin Wall fell, Russia didn't even have enough cash to pay their Soldiers their normal paychecks. The US offered to cover their paychecks so they could stay on post to safeguard their nuclear arsenal. If we didn't do that back then, they most likely would have abbandoned their posts to get jobs to feed their families. That would have left all of that weapons grade material completely unprotected, and it could have wound up in the wrong hands.

Looks like we did the right thing back then, and are still doing it now. Even the current pres understands that all nuclear material must be safeguarded, no matter the cost.