Presidential Determination
Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012
In simple terms
President Obama determined that global oil markets had sufficient non-Iranian supply to allow countries to significantly reduce Iranian oil purchases without causing supply disruptions. This continued a sanctions policy required by the 2012 NDAA, maintaining pressure on Iran's nuclear program through petroleum-based financial restrictions.