[Federal Register Volume 60, Number 52 (Friday, March 17, 1995)]
[Presidential Documents]
[Pages 14615-14616]
From the Federal Register Online via the Government Publishing 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.)<Clinton1>><Clinton2>

                THE WHITE HOUSE,

                    March 15, 1995.

[FR Doc. 95-6849
Filed 3-15-95; 4:50 pm]
Billing code 3195-01-P