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Executive Order 13599 of February 5, 2012
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BLOCKING PROPERTY OF THE GOVERNMENT OF IRAN AND IRANIAN FINANCIAL INSTITUTIONS
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.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 1245 of the National Defense Authorization Act for Fiscal Year 2012 (Public Law 112-81) (NDAA), and section 301 of title 3, United States Code,
I, BARACK OBAMA, President of the United States of America, in order to take additional steps with respect to the national emergency declared in Executive Order 12957 of March 15, 1995, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties,...
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1) EO 13599 is the fifth of six EOs [1] that inform the prohibitions and scope of the ITSR. It is implemented in the ITSR by 560.211 (Prohibited transactions involving blocked property).
2) Refer generally to 560.211, and comments thereto, for discussion on the scope and operation of the prohibitions enacted by this EO.
3) See FAQ 160 et seq, concerning this EO in particular.
4) Section 4(b) of this EO provides that:
"[t]he prohibitions in section 1 of this order do not apply to property and interests in property of the Government of Iran that were blocked pursuant to Executive Order 12170 of November 14, 1979, and thereafter made subject to...