TEXT

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.), the National Emergencies Act (50 U.S.C. 1601 et seq.), and
section 301 of title 3, United States Code,

I, WILLIAM J. CLINTON, President of the United States of America,
find that the actions and policies of the Government of Iran
constitute an unusual and extraordinary threat to the national
security, foreign policy, and economy of the United States, and
hereby declare a national emergency to deal with that threat.

I 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 entry into or
performance by a United States person, or the approval by a
United States person of the entry into or performance by an
entity owned or controlled by a United States person, of (i) a
contract that includes overall supervision and management
responsibility for the development of petroleum resources located
in Iran, or (ii) a guaranty of another person's performance under
such a contract;
     (b) the entry into or performance by a United States person,
or the approval by a United States person of the entry into or
performance by an entity owned or controlled by a United States
person, of (i) a contract for the financing of the development of
petroleum resources located in Iran, or (ii) a guaranty of
another person's performance under such a contract; and 
     (c) 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; and
     (d) The term "Iran" means the land territory claimed by Iran
and any other area over which Iran claims sovereignty, sovereign
rights or jurisdiction, including the territorial sea, exclusive
economic zone, and continental shelf claimed by Iran.

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, and to
employ all powers granted to me by the International Emergency
Economic Powers Act 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. 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. 5. (a) This order is effective at 12:01 a.m., eastern
standard time, on March 16, 1995.
     (b) This order shall be transmitted to the Congress and
published in the Federal Register.

                    /s/William J. Clinton



THE WHITE HOUSE,
March 15, 1995.