Energy, environment and natural resources

Executive Order 12957: Banning U.S. investment in Iran's energy sector - see Iran and Libya Sanctions Act

President: Bill Clinton

Declared the 1995 Iran national emergency and prohibited United States involvement in development of Iranian petroleum resources.

Status: Partly revoked. Is Executive Order 12957 still in effect? Partly. Executive Order 12957 remains in force in part. See Federal Register record.

What does Executive Order 12957 do?

EO 12957 declared a national emergency over the Iranian government’s conduct and barred United States persons from contracts, financing and other participation in petroleum-resource development in Iran. EO 12959 soon broadened the embargo, and EO 13059 consolidated it while revoking overlapping provisions. The underlying emergency remains the foundation for a larger sanctions architecture and was continued for one year beyond March 15, 2026; current obligations depend on later orders, statutes and OFAC licenses.

Administration position: The order began a sanctions emergency, not a blanket legal judgment about every Iran-related activity. Current prohibitions and exceptions must be read in the modern OFAC framework.
SignedMarch 15, 1995
Initial focusIranian petroleum development
Later consolidationEOs 12959 and 13059

Before and after

Before the order

Earlier Iran measures did not contain this petroleum-development investment ban or emergency.

After the order

US participation in covered development was prohibited and the emergency supported later sanctions.

Who had to do what

Agency / officeActionTiming / position
TreasuryDefine, license and enforce covered transactionsUnder the evolving program
US personsAvoid prohibited petroleum-development dealingsSubject to current rules and licenses

What happened next

EO 12957 declared the emergency.

EO 12959 broadened the embargo.

EO 13059 consolidated and partly revoked prior provisions.

The emergency was continued beyond March 15, 2026.