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.) (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 of 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, 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 (1944)(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, olr (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) 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

     (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" mean (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 and 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 of 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 a 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.

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


                    /s/William J. Clinton


THE WHITE HOUSE,
May 6, 1995.