Executive Order No. 12957. Prohibiting Certain Transactions With Respect to the Development of Iranian Petroleum Resources

• Executive Order No.: 12957
• Published date: 17 March 1995
• Citation: 60 FR 14615
• Date: 15 March 1995
• Section: Presidential Documents
• Issuer: Executive Office of the President

14615
Federal Register
Presidential Documents
Vol. 60, No. 52
Friday, March 17, 1995
Title 3—
Executive Order 12957 of March 15, 1995
The President
Prohibiting Certain Transactions With Respect to the
Development of Iranian Petroleum Resources
By the authority vested in me as President by the Constitution and the
laws of the United States of America, including the International Emergency
Economic Powers Act (50 U.S.C. 1701 et seq.), the National Emergencies
Act (50 U.S.C. 1601 et seq.), and section 301 of title 3, United States
Code,
I, WILLIAM J. CLINTON, President of the United States of America, find
that the actions and policies of the Government of Iran constitute an unusual
and extraordinary threat to the national security, foreign policy, and economy
of the United States, and hereby declare a national emergency to deal with
that threat.
I hereby order:
Section 1. The following are prohibited, except to the extent provided in
regulations, orders, directives, or licenses that may be issued pursuant to
this order, and notwithstanding any contract entered into or any license
or permit granted prior to the effective date of this order: (a) the entry
into or performance by a United States person, or the approval by a United
States person of the entry into or performance by an entity owned or con-
trolled by a United States person, of (i) a contract that includes overall
supervision and management responsibility for the development of petroleum
resources located in Iran, or (ii) a guaranty of another person’s performance
under such a contract;
(b) the entry into or performance by a United States person, or the approval
by a United States person of the entry into or performance by an entity
owned or controlled by a United States person, of (i) a contract for the
financing of the development of petroleum resources located in Iran, or
(ii) a guaranty of another person’s performance under such a contract; and
(c) any transaction by any United States person or within the United
States that evades or avoids, or has the purpose of evading or avoiding,
or attempts to violate, any of the prohibitions set forth in this order.
Sec. 2. For the purposes of this order: (a) The term ‘‘person’’ means an
individual or entity;
(b) The term ‘‘entity’’ means a partnership, association, trust, joint venture,
corporation, or other organization;
(c) The term ‘‘United States person’’ means any United States citizen,
permanent resident alien, entity organized under the laws of the United
States (including foreign branches), or any person in the United States;
and
(d) The term ‘‘Iran’’ means the land territory claimed by Iran and any
other area over which Iran claims sovereignty, sovereign rights or jurisdiction,
including the territorial sea, exclusive economic zone, and continental shelf
claimed by Iran.
Sec. 3. The Secretary of the Treasury, in consultation with the Secretary
of State, is hereby authorized to take such actions, including the promulgation
of rules and regulations, and to employ all powers granted to me by the
International Emergency Economic Powers Act as may be necessary to carry
out the purposes of this order. The Secretary of the Treasury may redelegate
any of these functions to other officers and agencies of the United States

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14616
Federal Register / Vol. 60, No. 52 / Friday, March 17, 1995 / Presidential Documents
Government. All agencies of the United States Government are hereby di-
rected to take all appropriate measures within their authority to carry out
the provisions of this order.
Sec. 4. Nothing contained in this order shall create any right or benefit,
substantive or procedural, enforceable by any party against the United States,
its agencies or instrumentalities, its officers or employees, or any other
person.
Sec. 5. (a) This order is effective at 12:01 a.m., eastern standard time,
on March 16, 1995.
(b) This order shall be transmitted to the Congress and published in
the Federal Register.
œ–
THE WHITE HOUSE,
March 15, 1995.
[FR Doc. 95–6849
Filed 3-15-95; 4:50 pm]
Billing code 3195–01–P

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