Presidential Authority to Permit the Withdrawal of Iranian Assets Now in the Federal Reserve Bank

Presidential Authority to Permit the Withdrawal of Iranian Assets Now in the Federal Reserve Bank In order to allow Iran to w ithdraw its assets in the Federal Reserve Bank, the President has the power, under the International Em ergency Econom ic Powers Act (IEE PA ), to nullify existing attachm ents licensed under the Iranian Assets C ontrol Regulations. Since in consenting to attachm ents against the blocked Iranian assets the G overnm ent reserved the right to revoke its consent at any time, their nullification does not constitute a compensable taking o f private property. T he Federal…