[Federal Register Volume 60, Number 52 (Friday, March 17, 1995)]
[Presidential Documents]
[Pages 14615-14616]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 95-6849]
[[Page 14613]]
_______________________________________________________________________
Part X
The President
_______________________________________________________________________
 Executive Orders 12957--Prohibiting Certain Transactions With Respect
to the Development of Iranian Petroleum Resources
                        Presidential Documents
Federal Register / Vol. 60, No. 52 / Friday, March 17, 1995 /
Presidential Documents
____________________________________________________________________
Title 3--
The President
[[Page 14615]]
                Executive Order 12957 of March 15, 1995
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 controlled 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 [[Page 14616]] Government. All
                agencies of the United States Government are hereby
                directed 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.
                    (Presidential Sig.)>
                THE WHITE HOUSE,
                    March 15, 1995.
[FR Doc. 95-6849
Filed 3-15-95; 4:50 pm]
Billing code 3195-01-P