Federal Register, Volume 60 Issue 89 (Tuesday, May 9, 1995)
[Federal Register Volume 60, Number 89 (Tuesday, May 9, 1995)]
[Presidential Documents]
[Pages 24757-24759]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 95-11694]
[[Page 24755]]
_______________________________________________________________________
Part X
The President
_______________________________________________________________________
Executive Order 12959--Prohibiting Certain Transactions With Respect to
Iran
Presidential Documents
Federal Register / Vol. 60, No. 89 / Tuesday, May 9, 1995 /
Presidential Documents
____________________________________________________________________
Title 3--
The President
[[Page 24757]]
Executive Order 12959 of May 6, 1995
Prohibiting Certain Transactions With Respect to
Iran
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.) (IEEPA), the
National Emergencies Act (50 U.S.C. 1601 et seq.),
section 505 of the International Security and
Development Cooperation Act of 1985 (22 U.S.C. 2349aa-
9) (ISDCA), and section 301 of title 3, United States
Code,
I, WILLIAM J. CLINTON, President of the United States
of America, in order to take steps with respect to Iran
in addition to those set forth in Executive Order No.
12957 of March 15, 1995, to deal with the unusual and
extraordinary threat to the national security, foreign
policy, and economy of the United States referred to in
that order, 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 importation into the United
States, or the financing of such importation, of any
goods or services of Iranian origin, other than
Iranian-origin publications and materials imported for
news publications or news broadcast dissemination;
(b) except to the extent provided in section 203(b)
of IEEPA (50 U.S.C. 1702(b)), the exportation from the
United States to Iran, the Government of Iran, or to
any entity owned or controlled by the Government of
Iran, or the financing of such exportation, of any
goods, technology (including technical data or other
information subject to the Export Administration
Regulations, 15 CFR Parts 768-799 (1994) (the
``EAR'')), or services;
(c) the reexportation to Iran, the Government of
Iran, or to any entity owned or controlled by the
Government of Iran, of any goods or technology
(including technical data or other information)
exported from the United States, the exportation of
which to Iran is subject to export license application
requirements under any United States regulations in
effect immediately prior to the issuance of this order,
unless, for goods, they have been (i) substantially
transformed outside the United States, or (ii)
incorporated into another product outside the United
States and constitute less than 10 percent by value of
that product exported from a third country;
(d) except to the extent provided in section 203(b)
of IEEPA (50 U.S.C. 1702(b)), any transaction,
including purchase, sale, transportation, swap,
financing, or brokering transactions, by a United
States person relating to goods or services of Iranian
origin or owned or controlled by the Government of
Iran;
(e) any new investment by a United States person in
Iran or in property (including entities) owned or
controlled by the Government of Iran;
(f) the approval or facilitation by a United States
person of the entry into or performance by an entity
owned or controlled by a United States person of a
transaction or contract (i) prohibited as to United
States persons by subsection (c), (d), or (e) above, or
(ii) relating to the financing of activities prohibited
as to United States persons by those subsections, or of
a guaranty of another person's performance of such
transaction or contract; and [[Page 24758]]
(g) 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;
(d) the term ``Iran'' means the territory of Iran
and any other territory or marine area, including the
exclusive economic zone and continental shelf, over
which the Government of Iran claims sovereignty,
sovereign rights or jurisdiction, provided that the
Government of Iran exercises partial or total de facto
control over the area or derives a benefit from
economic activity in the area pursuant to international
arrangements; and
(e) the term ``new investment'' means (i) a
commitment or contribution of funds or other assets, or
(ii) a loan or other extension of credit.
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, the requirement of reports, including
reports by United States persons on oil transactions
engaged in by their foreign affiliates with Iran or the
Government of Iran, and to employ all powers granted to
the President by IEEPA and ISDCA 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
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. The Secretary of the Treasury may not authorize
the exportation or reexportation to Iran, the
Government of Iran, or an entity owned or controlled by
the Government of Iran of any goods, technology, or
services subject to export license application
requirements of another agency of the United States
Government, if authorization of the exportation or
reexportation by that agency would be prohibited by
law.
Sec. 5. Sections 1 and 2 of Executive Order No. 12613
of October 29, 1987, and sections 1 and 2 of Executive
Order No. 12957 of March 15, 1995, are hereby revoked
to the extent inconsistent with this order. Otherwise,
the provisions of this order supplement the provisions
of Executive Orders No. 12613 and 12957.
Sec. 6. 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. 7. The measures taken pursuant to this order are
in response to actions of the Government of Iran
occurring after the conclusion of the 1981 Algiers
Accords, and are intended solely as a response to those
later actions.
Sec. 8. (a) This order is effective at 12:01 a.m.,
eastern daylight time, on May 7, 1995, except that (i)
section 1(b), (c), and (d) of this order shall not
apply until 12:01 a.m., eastern daylight time, on June
6, 1995, to trade transactions under contracts in force
as of the date of this order if such transactions are
authorized pursuant to Federal regulations in force
immediately prior to the date of this order (``existing
trade contracts''), and (ii) letters of credit and
other financing agreements with respect to existing
trade contracts may be performed pursuant to their
terms with respect to underlying trade transactions
occurring prior to 12:01 a.m., eastern daylight time,
on June 6, 1995. [[Page 24759]]
(b) This order shall be transmitted to the Congress
and published in the Federal Register.
(Presidential Sig.)>
THE WHITE HOUSE,
May 6, 1995.
[FR Doc. 95-11694
Filed 5-8-95; 2:43 pm]
Billing code 3195-01-P
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