Presidential Determination
Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012
This presidential determination, consistent with prior determinations, finds that global petroleum supplies from non-Iranian sources are sufficient to allow foreign financial institutions to significantly reduce purchases of Iranian oil. It maintains the legal foundation for U.S. sanctions pressure on Iran's oil sector by keeping the 'significant reduction exception' available to countries that reduce Iranian oil imports.