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 118 (Tuesday, June 19, 2012)

Federal Register Volume 77, Number 118 (Tuesday, June 19, 2012)

Presidential Documents

Page 36387

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

FR Doc No: 2012-14993

Page 36387

Presidential Determination No. 2012-09 of June 11, 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 April 27, 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 determination of March 30, 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, June 11, 2012.

FR Doc. 2012-14993

Filed 6-18-12; 8:45 am

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