The US Second Circuit Court of Appeals [official website] Thursday upheld [opinion text, PDF] the constitutional authority of the US president to regulate financial transactions with foreign countries involving the United States. The court rejected a claim by a Jordanian man, Osameh Al Wahaidy [profile], that former President George H.W. Bush [official profile] improperly invoked the International Emergency Economic Powers Act [PDF] to enforce a series of executive orders after Iraq invaded Kuwait in 1990. The orders made it illegal for a US person to transfer funds [JURIST report] to anyone in Iraq. Wahaidy argued that the power to create new criminal offenses belongs to Congress alone. In 2003, Wahaidy pleaded guilty to willfully trying to violate and evade executive orders by sending $100,000 to Iraq [US DOJ press release] in October and November 1999 and in February 2000.