[Federal Register Volume 80, Number 234 (Monday, December 7, 2015)]
[Presidential Documents]
[Page 75921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30909]


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  Federal Register / Vol. 80, No. 234 / Monday, December 7, 2015 / 
Presidential Documents  

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 Title 3--
 The President

[[Page 75921]]

                Presidential Determination No. 2016-03 of November 18, 
                2015

                
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 
                October 6, 2015, and other relevant factors, including 
                global economic conditions, increased oil production by 
                certain countries, the level of spare capacity, and the 
                availability of strategic reserves, I determine, 
                pursuant to section 1245(d)(4)(B) and (C) of the 
                National Defense Authorization Act for Fiscal Year 
                2012, Public Law 112-81, and consistent with my prior 
                determinations, 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. 
                However, in the Joint Plan of Action, the interim 
                arrangement to address concerns with Iran's nuclear 
                program reached between the P5+1, European Union and 
                Iran in November 2013, the United States committed to 
                allow oil purchases from Iran to continue at the levels 
                that prevailed at that time. Accordingly, my 
                Administration is not seeking further reductions of 
                Iranian oil purchases.

                I will continue to monitor this situation closely.

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

                THE WHITE HOUSE,

                    Washington, November 18, 2015

[FR Doc. 2015-30909
Filed 12-4-15; 8:45 am]
Billing code 4710-10-P