The Center for Grassroots Oversight

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November 14, 1979: Carter Freezes Iranian Assets

Shortly after the seizure of the US embassy in Tehran (see November 4, 1979-January 20, 1981), President Jimmy Carter issues Executive Order 12170 freezing Iranian government assets held in the United States under the authority of the International Emergency Economic Powers Act (IEEPA). (US President 11/14/1979) Iran has an estimated $12 billion in bank deposits, gold, and other properties, including $5.6 billion in deposits and securities held by overseas branches of US banks. (US Department of the Treasury. Office of Foreign Assets Control 11/1979)


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