ExecutiveOrdersEO
Notice 12170NoticeTrump 47 · R

Presidential Notice 12170

Continuation of the National Emergency With Respect to Iran

Defense & SecurityDefense & SecurityTradeTradeEconomy & LaborEconomy & Labor

In simple terms

This notice continues for one year the national emergency with respect to Iran originally declared by Executive Order 12170 on November 14, 1979, under the National Emergencies Act. The continuation extends the emergency authorities and related measures beyond their November 14, 2026 expiration date due to ongoing non-normalized relations with Iran and incomplete implementation of the 1981 agreements.

Federal Register Open PDF 91 FR 69947

Record & deadlines

  1. Signed

    Signed by the President

  2. FR published

    Published in the Federal Register · 91 FR 69947

    Federal Register PDF

  3. Continued emergency expires unless extended again

Market exposure

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

Sectors

Banking & financeOil & gasOther industrial

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • MixedDomestic producer — Maintains status quo of restricted Iran market access; no new restrictions but no opening either
  • AdverseImporter — Continues prohibition on Iranian-origin goods and services; US importers remain blocked from Iran market
  • AdverseTrading-partner exporter — Iranian entities and government remain subject to blocking sanctions and asset freezes

Geographies

USOTHER

Exposure dates

  • — Continued emergency expires unless extended again

Illustrative public companies

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

MMM3MAAPLAppleBACBank of AmericaBLKBlackRockCATCaterpillarLNGCheniere EnergyCVXChevronCOPConocoPhillipsXOMExxon MobilFCXFreeport-McMoRanGEVGE VernovaGSGoldman SachsHONHoneywellHSBCHSBCJPMJPMorgan ChaseSHELShellSPYSPDR S&P 500 ETFTSLATesla

Confidence: high · Policy alerts

Key directives

  • Continue national emergency with respect to Iran for 1 year beyond November 14, 2026
  • Publish notice in Federal Register
  • Transmit notice to Congress

Related orders

What to expect

Immediate

  • Emergency authorities under EO 12170 remain in effect without interruption

Near term (90d)

  • Federal Register publication
  • Congressional transmission

Long term

  • Emergency continues through November 14, 2027 unless terminated or extended again

Risks & tensions

  • Routine procedural renewal; no expansion of authorities
  • Distinguishes this 1979 emergency from separate 1995 emergency (EO 12957) renewed in March 2026, suggesting administrative care to avoid confusion
  • Perpetual emergency status since 1979 raises constitutional/governance questions about indefinite emergency declarations
Presidential Notice 12170: Continuation of the National Emergency With Respect to Iran · Executive Orders