Executive Order 12959 - Prohibiting Certain Transactions With Respect to Iran (Effective Date - May 7, 1995)

Date issued: May. 07 1995

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TURBOFAC Commentary (441 words)

Notes:

EO 12957 is the third of six EOs that inform the prohibitions and scope of the ITSR. This EO builds on the import (EO 12613) and petroleum-related transaction prohibitions (EO 12957) of earlier EOs. Sec. 5 of this EO provides that "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." OFAC still cites those EOs as authority for the ITSR, so it is not clear if OFAC considers there to be any actual inconsistency.

The prohibitions of this EO were subsequently...