Presidential Documents

14615

Federal Register

Vol. 60, No. 52

Friday, March 17, 1995

Title 3—

The President

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
14616 Federal Register / Vol. 60, No. 52 / Friday, March 17, 1995 / Presidential Documents

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

[FR Doc. 95–6849

the 

THE WHITE HOUSE,

March 15, 1995.

Federal Register.

œ–

Filed 3-15-95; 4:50 pm]

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