[Federal Register Volume 77, Number 69 (Tuesday, April 10, 2012)]
[Presidential Documents]
[Page 21387]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-8671]


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  Federal Register / Vol. 77, No. 69 / Tuesday, April 10, 2012 / 
Presidential Documents  

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 Title 3--
 The President

[[Page 21387]]

                Presidential Determination No. 2012-05 of March 30, 
                2012

                
 Presidential Determination Pursuant to Section 
                1245(d)(4)(B) And (C) of the National Defense 
                Authorization Act for Fiscal Year 2012

                Memorandum for the Secretary of State[,] the Secretary 
                of the Treasury[, and] the Secretary of Energy

                By the authority vested in me as President by the 
                Constitution and the laws of the United States, after 
                carefully considering the report submitted to the 
                Congress by the Energy Information Administration on 
                February 29, 2012, and other relevant information, and 
                given current global economic conditions, increased 
                production by certain countries, the level of spare 
                capacity, and the existence of strategic reserves, 
                among other factors, I determine, pursuant to section 
                1245(d)(4)(B) and (C) of the National Defense 
                Authorization Act for Fiscal Year 2012, Pub1ic Law 112-
                81, that there is a sufficient supply of petroleum and 
                petroleum products from countries other than Iran to 
                permit a significant reduction in the volume of 
                petroleum and petroleum products purchased from Iran by 
                or through foreign financial institutions.

                I will closely monitor this situation to assure that 
                the market can continue to accommodate a reduction in 
                purchases of petroleum and petroleum products from 
                Iran.

                The Secretary of State is authorized and directed to 
                publish this memorandum in the Federal Register.
                
                
                    (Presidential Sig.)

                THE WHITE HOUSE,

                    Washington, March 30, 2012

[FR Doc. 2012-8671
Filed 4-9-12; 8:45 am]
Billing code 4710-10-P