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 under Executive Order 12957, citing ongoing threats from Iran's weapons proliferation, regional aggression, support for terrorist groups, and activities of the Islamic Revolutionary Guard Corps. The renewal is distinct from a separate 1979 hostage-crisis emergency and from a November 2025 renewal.

Federal Register Open PDF 91 FR 10937

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

  • AdverseImporter — Continued sanctions restrict Iranian oil and petrochemical imports to US; secondary sanctions risk for non-US entities
  • AdverseDownstream manufacturer — Iranian-origin metals, chemicals, and petroleum products remain sanctioned; supply chain due diligence obligations persist
  • AdverseTrading-partner exporter — Non-US entities face secondary sanctions exposure for Iran trade, particularly in oil, petrochemicals, and metals
  • ProtectiveDomestic producer — US energy and petrochemical producers benefit from exclusion of Iranian competition in global markets

Geographies

USEUCNKRJPIN

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 with respect to Iran for 1 year beyond March 15, 2026
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • National emergency continues in effect beyond March 15, 2026
  • Existing sanctions authorities under IEEPA remain active

Near term (90d)

  • Annual congressional notification completed
  • Federal Register publication

Long term

  • Sanctions architecture remains in place through March 2027 barring further action
  • Potential for additional executive orders modifying Iran sanctions

Risks & tensions

  • Perpetual emergency status since 1995 raises constitutional questions about indefinite emergencies
  • Cites February 2026 EO 14382 suggesting recent escalation or refinement of Iran policy
  • Distinction from 1979 emergency and November 2025 renewal suggests complex layered sanctions architecture
  • No substantive policy changes—purely procedural continuation
Presidential Notice 12957: Continuation of the National Emergency With Respect to Iran · Executive Orders