T4 B9 Myers Fdr- Entire Contents- Fall 2002 Joseph M Myers Symposium Remarks- 1st Pg Scanned For Reference 663

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LENGTH: 2785 words SELECTED SYMPOSIUM REMARKS "FINANCIAL ASPECTS OF THE WAR ON TERROR": March 18, 2002: Disrupting Terrorist Networks: The New U.S. and International Regime for Halting Terrorist Funding JOSEPH M. MYERS * * Director, International Financial Affairs, Office of Combatting Terrorism, National Security Council. These remarks were delivered at the Law and Policy in International Business annual symposium in March 2002. SUMMARY: ... These remarks describe the purposes and goals behind the executive order issued by President Bush on September 23, 2001. ... What exactly is new about the new Executive Order? The answer is threefold: (1) it expands the coverage of pre-existing Executive Orders from terrorism in the Middle East to global terrorism; (2) it expands the class of targeted groups to include all those who are "associated with" designated terrorist groups; and (3) it makes clear the United States' ability to block the assets of foreign banks that refuse to freeze terrorist assets abroad. ... Resolution 1373 requires all states, in addition to their efforts to prevent the financing of terrorism, to take steps to review and strengthen their border security operations, customs and immigration procedures, law enforcement and intelligence cooperation, and arms transfer controls.... Resolution 1373 does not define "terrorism" and does not contemplate a sanctions regime, per se. However, by requiring a broad range of measures to combat terrorism and establishing an oversight committee to ensure implementation, Resolution 1373 presents a powerful tool to leverage cooperation by all states on financing issues, information sharing, police action, criminal prosecution, asset forfeiture, and border control over the long run. ... Beyond that, it can and certainly will provide its full support to the Resolution 1373 implementation committee.... TEXT-1: [*17] I. INTRODUCTION These remarks describe the purposes and goals behind the executive order issued by President Bush on September 23, 2001. nl It also ventures a bit further and describes the international regime of which the Executive Order forms only a part. The highlights of the international regime are embodied in a series of United Nations (U.N.) Security Council Resolutions. n2 U.N. Security Council Resolutions adopted under Chapter VII of the U.N. Charter (encompassing all sanctions resolutions) are binding on member states, but they are also often observed in the breach, and their language frequently leaves ample room for interpretation. It is precisely in the gap between compliance and breach, and in the gray zones of interpretation, that life gets interesting. II. EXECUTIVE ORDER 13,224 The President expressed in quite plain terms the purposes and goals behind the Executive Order he issued pursuant to the International Emergency Economic Powers Act (IEEPA) on September 23, 2001. A few direct quotes from his speech announcing the Order on September 24, 2001, make these purposes and goals very clear n3: