THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release March 15, 1995
EXECUTIVE ORDER 12957
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 +ACI-entity+ACI- 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 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.
WILLIAM J. CLINTON
THE WHITE HOUSE, March 15, 1995.
