PRINT
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 :Title 50 of the United States Code(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...
Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
EO 12957 is the second of six EOs that inform the prohibitions and scope of the ITSR. This EO, issued prior to the full-scale embargo, prohibits the transactions with respect to the development of Iranian petroleum resources that are implemented by 560.209.
560.209 remains in the ITSR because this EO is still active, but for practical purposes, it has been superseded by broader prohibitions that have been interpreted encompass the entire scope the prohibitions of this EO. Between 560.208 (prohibited facilitation), 560.207 (prohibited investment) and 560.204 (prohibited exportation, reexportation, sale, or supply of goods, technology, or services to Iran), there does not appear to be anything prohibited by this EO that is not otherwise prohibited. OFAC has never cited 560.209 in the context...