[Federal Register Volume 60, Number 89 (Tuesday, May 9, 1995)]
[Presidential Documents]
[Pages 24757-24759]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-11694]




[[Page 24755]]

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Part X





The President





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Executive Order 12959--Prohibiting Certain Transactions With Respect to 
Iran
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  Federal Register / Vol. 60, No. 89 / Tuesday, May 9, 1995 / 
Presidential Documents  

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 Title 3--
 The President  
[[Page 24757]] 

                Executive Order 12959 of May 6, 1995

                
Prohibiting Certain Transactions With Respect to 
                Iran

                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 505 of the International Security and 
                Development Cooperation Act of 1985 (22 U.S.C. 2349aa-
                9) (ISDCA), and section 301 of title 3, United States 
                Code,

                I, WILLIAM J. CLINTON, President of the United States 
                of America, in order to take steps with respect to Iran 
                in addition to those set forth in Executive Order No. 
                12957 of March 15, 1995, to deal with the unusual and 
                extraordinary threat to the national security, foreign 
                policy, and economy of the United States referred to in 
                that order, 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 importation into the United 
                States, or the financing of such importation, of any 
                goods or services of Iranian origin, other than 
                Iranian-origin publications and materials imported for 
                news publications or news broadcast dissemination;

                    (b) except to the extent provided in section 203(b) 
                of IEEPA (50 U.S.C. 1702(b)), the exportation from the 
                United States to Iran, the Government of Iran, or to 
                any entity owned or controlled by the Government of 
                Iran, or the financing of such exportation, of any 
                goods, technology (including technical data or other 
                information subject to the Export Administration 
                Regulations, 15 CFR Parts 768-799 (1994) (the 
                ``EAR'')), or services;
                    (c) the reexportation to Iran, the Government of 
                Iran, or to any entity owned or controlled by the 
                Government of Iran, of any goods or technology 
                (including technical data or other information) 
                exported from the United States, the exportation of 
                which to Iran is subject to export license application 
                requirements under any United States regulations in 
                effect immediately prior to the issuance of this order, 
                unless, for goods, they have been (i) substantially 
                transformed outside the United States, or (ii) 
                incorporated into another product outside the United 
                States and constitute less than 10 percent by value of 
                that product exported from a third country;
                    (d) except to the extent provided in section 203(b) 
                of IEEPA (50 U.S.C. 1702(b)), any transaction, 
                including purchase, sale, transportation, swap, 
                financing, or brokering transactions, by a United 
                States person relating to goods or services of Iranian 
                origin or owned or controlled by the Government of 
                Iran;
                    (e) any new investment by a United States person in 
                Iran or in property (including entities) owned or 
                controlled by the Government of Iran;
                    (f) the approval or facilitation by a United States 
                person of the entry into or performance by an entity 
                owned or controlled by a United States person of a 
                transaction or contract (i) prohibited as to United 
                States persons by subsection (c), (d), or (e) above, or 
                (ii) relating to the financing of activities prohibited 
                as to United States persons by those subsections, or of 
                a guaranty of another person's performance of such 
                transaction or contract; and [[Page 24758]] 
                    (g) 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 ``entity'' 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;
                    (d) the term ``Iran'' means the territory of Iran 
                and any other territory or marine area, including the 
                exclusive economic zone and continental shelf, over 
                which the Government of Iran claims sovereignty, 
                sovereign rights or jurisdiction, provided that the 
                Government of Iran exercises partial or total de facto 
                control over the area or derives a benefit from 
                economic activity in the area pursuant to international 
                arrangements; and
                    (e) the term ``new investment'' means (i) a 
                commitment or contribution of funds or other assets, or 
                (ii) a loan or other extension of credit.

                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, the requirement of reports, including 
                reports by United States persons on oil transactions 
                engaged in by their foreign affiliates with Iran or the 
                Government of Iran, and to employ all powers granted to 
                the President by IEEPA and ISDCA 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. The Secretary of the Treasury may not authorize 
                the exportation or reexportation to Iran, the 
                Government of Iran, or an entity owned or controlled by 
                the Government of Iran of any goods, technology, or 
                services subject to export license application 
                requirements of another agency of the United States 
                Government, if authorization of the exportation or 
                reexportation by that agency would be prohibited by 
                law.

                Sec. 5. 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.

                Sec. 6. 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. 7. The measures taken pursuant to this order are 
                in response to actions of the Government of Iran 
                occurring after the conclusion of the 1981 Algiers 
                Accords, and are intended solely as a response to those 
                later actions.

                Sec. 8. (a) This order is effective at 12:01 a.m., 
                eastern daylight time, on May 7, 1995, except that (i) 
                section 1(b), (c), and (d) of this order shall not 
                apply until 12:01 a.m., eastern daylight time, on June 
                6, 1995, to trade transactions under contracts in force 
                as of the date of this order if such transactions are 
                authorized pursuant to Federal regulations in force 
                immediately prior to the date of this order (``existing 
                trade contracts''), and (ii) letters of credit and 
                other financing agreements with respect to existing 
                trade contracts may be performed pursuant to their 
                terms with respect to underlying trade transactions 
                occurring prior to 12:01 a.m., eastern daylight time, 
                on June 6, 1995. [[Page 24759]] 

                    (b) This order shall be transmitted to the Congress 
                and published in the Federal Register.

                    (Presidential Sig.)>

                THE WHITE HOUSE,

                    May 6, 1995.

[FR Doc. 95-11694
Filed 5-8-95; 2:43 pm]
Billing code 3195-01-P