[Congressional Record Volume 141, Number 48 (Wednesday, March 15, 1995)]
[Senate]
[Page S3963]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


   REPORT RELATIVE TO IRANIAN PETROLEUM RESOURCES--MESSAGE FROM THE 
                            PRESIDENT--PM 33

  The PRESIDING OFFICER laid before the Senate the following message 
from the President of the United States, together with an accompanying 
report; which was referred to the Committee on Banking, Housing, and 
Urban Affairs.

To the Congress of the United States:
  Pursuant to the section 204(b) of the International Emergency 
Economic Powers Act (50 U.S.C. 1703(b)) and section 301 of the National 
Emergencies Act (50 U.S.C. 1631), I hereby report that I have exercised 
my statutory authority to declare a national emergency to respond to 
the actions and policies of the Government of Iran and to issue an 
Executive order prohibiting United States persons from entering into 
contracts for the financing of or the overall management or supervision 
of the development of petroleum resources located in Iran or over which 
Iran claims jurisdiction.
  The Secretary of the Treasury is authorized to issue regulations in 
exercise of my authorities under the International Emergency Economic 
Powers Act to implement these prohibitions. All Federal agencies are 
also directed to take actions within their authority to carry out the 
provisions of the Executive order.
  I am enclosing a copy of the Executive order that I have issued. The 
order is effective at 12:01 a.m., eastern standard time, on March 16, 
1995.
  I have authorized these measures in response to the actions and 
policies of Iran including support for international terrorism, efforts 
to undermine the Middle East Peace Process, and the acquisition of 
weapons of mass destruction and the means to deliver them. We have 
worked energetically to press the Government of Iran to cease this 
unacceptable behavior. To that end we have worked closely with Allied 
governments to prevent Iran's access to goods that would enhance its 
military capabilities and allow it to further threaten the security of 
the region. We have also worked to limit Iran's financial resources by 
opposing subsidized lending.
  Iran has reacted to the limitations on its financial resources by 
negotiating for Western firms to provide financing and know-how for 
management of the development of petroleum resources. Such development 
would provide new funds that the Iranian Government could use to 
continue its current policies. It continues to be the policy of the 
U.S. Government to seek to limit those resources and these prohibitions 
will prevent United States persons from acting in a manner that 
undermines that effort.
                                                  William J. Clinton.  
  The White House, March 15, 1995.
  

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