Message to the Congress on Imposing Sanctions with Respect to the Iron, Steel, Aluminum, and Copper Sectors of Iran | Eastern NC Now

Press Release:

    TO THE CONGRESS OF THE UNITED STATES:

    Pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), I hereby report that I have issued an Executive Order (the "order") with respect to Iran that takes additional steps with respect to the national emergency declared in Executive Order 12957 of March 15, 1995, and to supplement the authorities provided in the Iran Freedom and Counter-Proliferation Act of 2012 (subtitle D of title XII of Public Law 112-239).

    The order takes steps to deny Iran revenue, including revenue derived from the export of products from Iran's iron, steel, aluminum, and copper sectors, that may be used to provide funding and support for the proliferation of weapons of mass destruction, terrorist groups and networks, campaigns of regional aggression, and military expansion.

    The order blocks the property and interests in property of persons determined by the Secretary of the Treasury, in consultation with the Secretary of State:

• to be operating in the iron, steel, aluminum, or copper sector of Iran, or to be a person that owns, controls, or operates an entity that is part of the iron, steel, aluminum, or copper sector of Iran;
• to have knowingly engaged, on or after the date of the order, in a significant transaction for the sale, supply, or transfer to Iran of significant goods or services used in connection with the iron, steel, aluminum, or copper sectors of Iran;
• to have knowingly engaged, on or after the date of the order, in a significant transaction for the purchase, acquisition, sale, transport, or marketing of iron, iron products, aluminum, aluminum products, steel, steel products, copper, or copper products from Iran;
• to have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services in support of, any person whose property and interests in property are blocked pursuant to the order; or
• to be owned or controlled by, or to have acted or purported to act for or on behalf of, directly or indirectly, any person whose property and interests in property are blocked pursuant to the order.

    The order also authorizes the Secretary of the Treasury, in consultation with the Secretary of State, to impose correspondent and payable-through account-related sanctions on a foreign financial institution upon determining the foreign financial institution has, on or after the date of the order, knowingly conducted or facilitated a significant financial transaction:

• for the sale, supply, or transfer to Iran of significant goods or services used in connection with the iron, steel, aluminum, or copper sectors of Iran;
• for the purchase, acquisition, sale, transport, or marketing of iron, iron products, aluminum, aluminum products, steel, steel products, copper, or copper products from Iran; or
• for or on behalf of any persons whose property and interests in property are blocked pursuant to the order.

    I have delegated to the Secretary of the Treasury, in consultation with the Secretary of State, the authority to take such actions, including adopting rules and regulations, to employ all powers granted to the President by IEEPA as may be necessary to implement the order.

    I am enclosing a copy of the order I have issued.

DONALD J. TRUMP
THE WHITE HOUSE
May 8, 2019

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