WASHINGTON (CN) - President Obama has extended for one year the ban on financial transactions between people and organizations suspected of supporting, or participating in, terrorist activity and people or institutions under the legal jurisdiction of the United States.
Obama's predecessor George W. Bush signed the original order on Sept. 23, 2001, to respond to terror events that included those on Sept.11, 2001.
Under the International Emergency Economic Powers Act and the National Emergencies Act, the order also allows the Treasury Department to freeze the assets of individuals, organizations and governments that support or participate in terrorist activities.
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