Trade, tariffs and industry

Executive Order 12959: Prohibiting Certain Transactions With Respect to Iran

President: Bill Clinton

Expanded the 1995 Iran emergency into a broad embargo on trade, investment, financing and facilitation by United States persons.

Status: Partly revoked. Is Executive Order 12959 still in effect? Partly. Executive Order 12959 remains in force in part. See Executive Order 13059: Prohibiting Certain Transactions With Respect to Iran, Federal Register record.

What does Executive Order 12959 do?

EO 12959 prohibited most exports to Iran, imports of Iranian goods and services, new investment, brokering, financing and facilitation, with exceptions and licenses administered by Treasury. It also partly displaced EO 12957 and EO 12613. EO 13059 consolidated and clarified the embargo in 1997 and revoked overlapping paragraphs of EO 12959, but current OFAC materials still list the order among the authorities for the Iranian Transactions and Sanctions Regulations. The underlying EO 12957 emergency remains active.

Administration position: The order imposed broad prohibitions but not an exception-free ban. Current licenses, statutory exemptions and later sanctions measures control real transactions.
SignedMay 6, 1995
ScopeBroad trade, investment and facilitation embargo
Later consolidationEO 13059 in 1997

Before and after

Before the order

EO 12957 focused on Iranian petroleum development.

After the order

The emergency covered most US trade and investment activity with Iran before later consolidation.

Who had to do what

Agency / officeActionTiming / position
TreasuryIssue regulations and licensesContinuing under current program
US personsObserve prohibitions on covered trade and facilitationSubject to current law and licenses

What happened next

EO 12959 broadened the embargo.

EO 13059 consolidated the regime and revoked overlapping provisions.

The underlying national emergency was renewed.