Authorizing the Implementation of Certain Sanctions Set Forth in the Iran Sanctions Act of 1996, as Amended

Executive Order 13574 of May 23, 2011

Authorizing the Implementation of Certain
Sanctions Set Forth in the Iran Sanctions Act of 1996,
as Amended

By the authority vested in me as President by the
Constitution and the laws of the United States of
America, including the International Emergency Economic
Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the
National Emergencies Act (50 U.S.C. 1601 et seq.), the
Iran Sanctions Act of 1996 (Public Law 104-172) (50
U.S.C. 1701 note) (ISA), as amended by, inter alia, the
Comprehensive Iran Sanctions, Accountability, and
Divestment Act of 2010 (Public Law 111-195), and
section 301 of title 3, United States Code, and in
order to take additional steps with respect to the
national emergency declared in Executive Order 12957 of
March 15, 1995,

I, BARACK OBAMA, President of the United States of
America, hereby order:

Section 1. (a) When the President, or the Secretary of
State pursuant to authority delegated by the President
and in accordance with the terms of such delegation,
which includes consultation with the Secretary of the
Treasury, has determined that sanctions shall be
imposed on a person pursuant to section 5 of ISA and
has selected the sanctions set forth in section 6 of
ISA to impose on that person, the Secretary of the
Treasury, in consultation with the Secretary of State,
shall take the following actions with respect to the
sanctions imposed and maintained by the President or by
the Secretary of State pursuant to and in accordance
with the terms of such delegation:

(i) with respect to section 6(a)(3) of ISA, prohibit any United States
financial institution from making loans or providing credits to the ISA-
sanctioned person consistent with section 6(a)(3) of ISA;

(ii) with respect to section 6(a)(6) of ISA, prohibit any transactions in
foreign exchange that are subject to the jurisdiction of the United States
and in which the ISA-sanctioned person has any interest;

(iii) with respect to section 6(a)(7) of ISA, prohibit any transfers of
credit or payments between financial institutions or by, through, or to any
financial institution, to the extent that such transfers or payments are
subject to the jurisdiction of the United States and involve any interest
of the ISA-sanctioned person;

(iv) with respect to section 6(a)(8) of ISA, block all property and
interests in property that are in the United States, that come within the
United States, or that are or come within the possession or control of any
United States person, including any overseas branch, of the ISA-sanctioned
person, and provide that such property and interests in property may not be
transferred, paid, exported, withdrawn, or otherwise dealt in; or

(v) with respect to section 6(a)(9) of ISA, restrict or prohibit imports of
goods, technology, or services, directly or indirectly, into the United
States from the ISA-sanctioned person.

    (b) I hereby determine that, to the extent section
203(b)(2) of IEEPA (50 U.S.C. 1702(b)(2)) may apply,
the making of donations of the types of articles
specified in such section by, to, or for the benefit of
any ISA-sanctioned person whose property and interests
in property are blocked pursuant to subsection (a)(iv)
of this section would seriously impair my ability to
deal with the national emergency declared in Executive
Order

12957, and I hereby prohibit such donations as provided
by subsection (a)(iv) of this section.
    (c) The prohibitions in subsection (a)(iv) of this
section include but are not limited to:

(i) the making of any contribution or provision of funds, goods, or
services by, to, or for the benefit of any ISA-sanctioned person whose
property and interests in property are blocked pursuant to this order; and

(ii) the receipt of any contribution or provision of funds, goods, or
services from any such ISA-sanctioned person.

    (d) The prohibitions in subsection (a) of this
section apply except to the extent provided by
statutes, or in regulations, orders, directives, or
licenses that may be issued pursuant to this order, and
notwithstanding any contract entered into or any
license or permit granted prior to the date of this
order.

Sec. 2. (a) Any transaction by a United States person
or within the United States that evades or avoids, has
the purpose of evading or avoiding, causes a violation
of, or attempts to violate any of the prohibitions set
forth in this order is prohibited.

    (b) Any conspiracy formed to violate any of the
prohibitions set forth in this order is prohibited.

Sec. 3. For the purposes of this order:

    (a) the term “person” means an individual or
entity;
    (b) the term “entity” means a partnership,
association, trust, joint venture, corporation, group,
subgroup, or other organization;
    (c) the term “United States person” means any
United States citizen, permanent resident alien, entity
organized under the laws of the United States or any
jurisdiction within the United States (including
foreign branches), or any person in the United States;
    (d) the term “financial institution” includes (i)
a depository institution (as defined in section 3(c)(1)
of the Federal Deposit Insurance Act) (12 U.S.C.
1813(c)(1)), including a branch or agency of a foreign
bank (as defined in section 1(b)(7) of the
International Banking Act of 1978) (12 U.S.C. 3101(7));
(ii) a credit union; (iii) a securities firm, including
a broker or dealer; (iv) an insurance company,
including an agency or underwriter; and (v) any other
company that provides financial services;
    (e) the term “United States financial
institution” means a financial institution (including
its foreign branches) organized under the laws of the
United States or of any jurisdiction within the United
States; and
    (f) the term “ISA-sanctioned person” means a
person that the President, or the Secretary of State
pursuant to authority delegated by the President and in
accordance with the terms of such delegation, including
consultation with the Secretary of the Treasury, has
determined is a person on whom sanctions shall be
imposed pursuant to section 5 of ISA and on whom the
President or the Secretary of State has imposed any of
the sanctions in section 6 of ISA.

Sec. 4. For those persons whose property and interests
in property are blocked pursuant to this order who
might have a constitutional presence in the United
States, I find that because of the ability to transfer
funds or other assets instantaneously, prior notice to
such persons of measures to be taken pursuant to
section 1(a)(iv) of this order would render those
measures ineffectual. I therefore determine that for
these measures to be effective in addressing the
national emergency declared in Executive Order 12957,
there need be no prior notice of an action taken
pursuant to section 1(a)(iv) of this order.

Sec. 5. The Secretary of the Treasury, in consultation
with the Secretary of State, is hereby authorized to
take such actions, including the promulgation of rules
and regulations, and to employ all powers granted to
the President by IEEPA and sections 6(a)(6), 6(a)(7),
6(a)(8), and 6(a)(9) of ISA, and to

employ all powers granted to the United States
Government by section 6(a)(3) of ISA as may be
necessary to carry out the purposes of this order. The
Secretary of the Treasury may redelegate any of these
functions to other officers and agencies of the United
States Government consistent with applicable law. All
agencies of the United States Government are hereby
directed to take all appropriate measures within their
authority to carry out the provisions of this order.

Sec. 6. This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.

Sec. 7. The measures taken pursuant to this order are
in response to actions of the Government of Iran
occurring after the conclusion of the 1981 Algiers
Accords, and are intended solely as a response to those
later actions.

    (Presidential Sig.)

THE WHITE HOUSE,

    May 23, 2011.