    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book I)]
    [March 15, 1995]
    [Page 357]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Congress on Prohibiting Transactions With Respect to the
    Development of Iranian Petroleum Resources
    March 15, 1995

    To the Congress of the United States:
        Pursuant to 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 destructions 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.

     Note: The Executive order is listed in Appendix D at the end of this
    volume.