Bush Extends Order Protecting Iraq Assets

President Bush on Thursday extended for another year an order that protects Iraq's oil assets from companies seeking compensation for losses under Saddam Hussein's rule.

Last May, Bush declared a national emergency that shielded the Development Fund for Iraq from court claims against those assets and other interests. He expanded and modified the order in August and two more times last year.

Bush said he was extending the order because U.S. national security is threatened by obstacles to an orderly reconstruction of Iraq and the move toward democracy.

Thu May 19, 7:27 PM ET
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