ExecutiveOrdersEO
Notice 12957NoticeClinton · D Quiet signal

Presidential Notice 12957

Continuation of Iran Emergency

President Clinton extended the national emergency with respect to Iran for another year, first declared on March 15, 1995 under Executive Order 12957, citing ongoing threats from Iran's support for terrorism, efforts to undermine Middle East peace, and pursuit of weapons of mass destruction. The continuation notice was issued on March 4, 1998, just before the emergency would have expired on March 15, 1998.

Federal Register Open PDF 63 FR 11099

Impact dates

  1. Original emergency expiration date; continuation takes effect before this date

Market exposure

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

Sectors

Oil & gasOther industrial

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • AdverseImporter — Continued comprehensive sanctions block Iranian oil and goods imports to US
  • AdverseTrading-partner exporter — Third-country entities risk secondary sanctions for Iran trade; Iran isolated from global financial system
  • ProtectiveDomestic producer — US energy and industrial producers shielded from Iranian competition in US market

Geographies

USEUJP

Exposure dates

  • — Original emergency expiration date; continuation takes effect before this date

Illustrative public companies

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

MMM3MAAPLAppleCATCaterpillarLNGCheniere EnergyCVXChevronCOPConocoPhillipsXOMExxon MobilFCXFreeport-McMoRanGEVGE VernovaHONHoneywellSHELShellSPYSPDR S&P 500 ETFTSLATesla

Confidence: high · Policy alerts

Key directives

  • Continue national emergency with respect to Iran beyond March 15, 1998
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • National emergency with respect to Iran continues beyond March 15, 1998
  • Sanctions under EO 12957, 12959, and 13059 remain in force

Near term (90d)

  • Annual congressional notification transmitted
  • Federal Register publication of notice

Long term

  • Emergency subject to annual renewal review under National Emergencies Act
  • Continued sanctions architecture until policy change or termination

Risks & tensions

  • Procedural annual renewal masks substantive policy continuity without reassessment
  • Distinguishing this emergency from 1979 hostage-crisis emergency (EO 12170) suggests complex layering of Iran sanctions authorities
  • No evaluation of whether sanctions achieving stated objectives
Presidential Notice 12957: Continuation of Iran Emergency · Executive Orders