President Bush has renewed a nine-year-old executive order imposing sanctions on individuals and businesses involved in Colombian drug trafficking.
The president signed the order late Tuesday, continuing a national emergency declared under the International Emergency Economic Powers Act. The order designates the actions of Colombian drug traffickers "an unusual and extraordinary threat" to U.S. national security, foreign policy, and economy.
The order blocks property and property interests of U.S. or foreign individuals or businesses engaged in the Colombian drug trade. It also blocks property and property interests of individuals and businesses that materially assist or provide support to trafficking activities.
The order prohibits dealing in those covered property or property interests.
It expires October 20, 2005.