Agreement for necessary or strategic raw material; definition
22 U.S.C. 2751Notwithstanding any other provision of law, whenever the President determines it is in the United States national interest, he shall furnish assistance under this chapter or shall furnish defense articles or services under the Foreign Military Sales Act [ et. seq.], pursuant to an agreement with the recipient of such assistance, articles, or services which provides that such recipient may only obtain such assistance, articles, or services in exchange for any necessary or strategic raw material controlled by such recipient. For the purposes of this section, the term “necessary or strategic raw material” includes petroleum, other fossil fuels, metals, minerals, or any other natural substance which the President determines is in short supply in the United States.
Allocation of raw materials to Federal agencies
The President shall allocate any necessary or strategic raw material transferred to the United States under this section to any appropriate agency of the United States Government for stockpiling, sale, transfer, disposal, or any other purpose authorized by law.
Deposits in United States Treasury of funds from disposal of materials
Funds received from any disposal of materials under subsection (b) shall be deposited as miscellaneous receipts in the United States Treasury.
Pub. L. 87–195Pub. L. 93–559, § 3288 Stat. 1805 (, pt. III, § 663, as added , , .)
Editorial Notes
References in Text
Pub. L. 87–19575 Stat. 424 section 2151 of this titleThis chapter, referred to in subsec. (a), was in the original “this Act”, meaning , , , known as the Foreign Assistance Act of 1961. For complete classification of this Act to the Code, see Short Title note set out under and Tables.
Pub. L. 90–62982 Stat. 1320 section 201(b) of Pub. L. 94–32990 Stat. 734 section 2751 of this titleThe Foreign Military Sales Act, referred to in subsec. (a), is , ch. 1, , , known as the Arms Export Control Act, on authority of , title II, , , and is classified principally to chapter 39 (§ 2751 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.
Executive Documents
Delegation of Functions
section 2381 of this titleFor delegation of functions of President under this section, see Ex. Ord. No. 12163, , 44 F.R. 56673, as amended, set out as a note under .