ExecutiveOrdersEO
Notice 12957NoticeTrump 47 · R Quiet signal

Presidential Notice 12957

Continuation of the National Emergency With Respect to Iran

This notice continues for one year the national emergency with respect to Iran originally declared in 1995, citing ongoing threats from Iran's weapons programs, regional aggression, support for terrorist groups, and activities of the Islamic Revolutionary Guard Corps. The renewal is mandated under the National Emergencies Act and is distinct from the separate 1979 hostage-crisis emergency.

Federal Register Open PDF 90 FR 11887

Impact dates

  1. Continued national emergency expires unless renewed again

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Oil & gasBanking & financeShipping & logisticsChemicalsDefense primes

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • ProtectiveDomestic producer — Continued sanctions restrict Iranian oil exports, supporting US energy prices and market share
  • AdverseImporter — Sustained blocking of Iranian-origin goods and services; enhanced due diligence required
  • AdverseTrading-partner exporter — Third-country entities face secondary sanctions risk for Iran dealings, particularly in oil, petrochemicals, and financial sectors
  • MixedDownstream manufacturer — Supply chain exclusion of Iranian inputs maintained; some competitive relief from Iranian industrial exclusion

Geographies

USEUCNINKRJPOTHER

Exposure dates

  • — Continued national emergency expires unless renewed again

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MALBAlbemarleBACBank of AmericaBASFYBASFBLKBlackRockBABoeingLNGCheniere EnergyCVXChevronCOPConocoPhillipsCTVACortevaDACDanaosDOWDowDDDuPontXOMExxon MobilFDXFedExGEVGE VernovaGDGeneral DynamicsGSGoldman SachsHSBCHSBCJPMJPMorgan ChaseLMTLockheed MartinLYBLyondellBasellMATXMatsonNOCNorthrop Grumman

Confidence: high · Policy alerts

Key directives

  • Continue national emergency declared in Executive Order 12957 for 1 year beyond March 15, 2025
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • National emergency authority under IEEPA remains in effect
  • Existing sanctions and blocking authorities continue uninterrupted

Near term (90d)

  • Congressional notification and Federal Register publication
  • Potential Treasury/State Department guidance updates on sanctions enforcement

Long term

  • Annual renewal cycle repeats unless terminated by Congress or President
  • Sustained legal basis for comprehensive Iran sanctions regime

Risks & tensions

  • Perpetual emergency status normalizes extraordinary economic powers; Congress has not terminated despite decades-long duration
  • Distinction from 1979 hostage emergency underscores layered, overlapping emergency architecture
  • No substantive policy change—purely procedural continuation reduces transparency of sanctions evolution
Presidential Notice 12957: Continuation of the National Emergency With Respect to Iran · Executive Orders