International Emergency Economic Powers Act
1977 US law letting a president freeze assets after declaring a national emergency.
Enacted on 28 December 1977, the International Emergency Economic Powers Act lets a US president regulate transactions and block property after declaring a qualifying national emergency.
Last refreshed: 22 October 2026 · Appears in 1 active topic
Why did Washington put its 2026 Cuba programme on a second legal base?
Timeline for International Emergency Economic Powers Act
Provided the statutory basis for part 516
Cuba Dispatch: OFAC closes Cuban firms' US accountsBackground
The International Emergency Economic Powers Act, or IEEPA, is a 1977 US federal statute governing economic powers used after a president declares a national emergency over an unusual foreign threat. Its core provisions sit at 50 U.S.C. 1701-1706. The law permits regulation of foreign exchange and payments, and blocking of property interests subject to US jurisdiction, while preserving statutory exceptions. It also provides reporting duties and penalties.
A president invokes IEEPA through an emergency declaration and executive action. Federal agencies then administer measures delegated under that authority. Executive Order 14404 invokes IEEPA for its Cuba programme, and the US Treasury's Office of Foreign Assets Control uses it as the statutory basis for the Cuba Sanctions Regulations at 31 CFR part 516. That use is one implementation of the statute rather than part of IEEPA's text.
What is the International Emergency Economic Powers Act?
How can a president use IEEPA to block assets?
Why does IEEPA matter to the 2026 Cuba sanctions?
When was IEEPA enacted?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 October 2026. Editorial standards.