Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012

Federal Register, Volume 77 Issue 247 (Wednesday, December 26, 2012)

Federal Register Volume 77, Number 247 (Wednesday, December 26, 2012)

Presidential Documents

Pages 76211-76213

From the Federal Register Online via the Government Printing Office www.gpo.gov

FR Doc No: 2012-31133

Page 76211

Vol. 77

Wednesday,

No. 247

December 26, 2012

Part III

The President

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Presidential Determination No. 2013-03 of December 7, 2012--

Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012

Page 76213

Presidential Determination No. 2013-03 of December 7, 2012

Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012

Memorandum for the Secretary of State, the Secretary of the Treasury, and the Secretary of Energy

By the authority vested in me as President by the Constitution and the laws of the United States, after carefully considering the report submitted to the Congress by the Energy Information Administration on October 25, 2012, and other relevant factors, including global economic conditions, increased oil production by certain countries, the level of spare capacity, and the availability of strategic reserves, I determine, pursuant to section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012, Public Law 112-81, and consistent with my determinations of March 30, 2012, and June 11, 2012, that there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions.

I will closely monitor this situation to ensure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran.

The Secretary of State is authorized and directed to publish this memorandum in the Federal Register.

(Presidential Sig.)

THE WHITE HOUSE,

Washington, December 7, 2012

FR Doc. 2012-31133

Filed 12-21-12; 8:15 am

Billing code 4710-10