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Context of 'May 6, 1995: US Prohibits American Business Firms from Trading with Iran'

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January 20, 1993: Bill Clinton Inaugurated


President Bill Clinton.
President Bill Clinton. [Source: Library of Congress]Bill Clinton replaces George H. W. Bush as US president. He remains president until January 2001.

Entity Tags: William Jefferson (“Bill”) Clinton, George Herbert Walker Bush

Timeline Tags: Complete 911 Timeline

US President Bill Clinton issues Executive Order 12957 imposing strict oil and trade sanctions on Iran. US companies and their foreign subsidiaries are hence prohibited from entering into any contract “for the financing of the development of petroleum resources located in Iran.” [US President, 3/15/1995; BBC, 3/17/2000; US Department of Energy, 8/2004]

Timeline Tags: US confrontation with Iran

US President Bill Clinton issues Executive Order 12959 prohibiting US businesses from engaging in virtually all trade with Iran except for information and informational materials. Corporate criminal penalties for violations of the Iranian Transactions Regulations range up to $500,000, with individual penalties of up to $250,000 and 10 years in jail. [US Department of the Treasury. Office of Foreign Assets Control, 11/1979; US President, 5/6/1995]

Entity Tags: William Jefferson (“Bill”) Clinton

Timeline Tags: US confrontation with Iran

George W. Bush taking the oath of office.George W. Bush taking the oath of office. [Source: White House/ Wally McNamara]George W. Bush is inaugurated as president, replacing President Bill Clinton. Bush is sworn in after a tumultuous, sharply disputed election that ended with a US Supreme Court decision in his favor (see 9:54 p.m. December 12, 2000). He takes the oath of office on the same Bible his father, George H.W. Bush, used in his own 1989 inauguration; the oath is administered by Chief Justice William Rehnquist. In his brief inaugural address, delivered outside the US Capitol, Bush asks Americans to “a commitment to principle with a concern for civility.… Civility is not a tactic or a sentiment. It is the determined choice of trust over cynicism, of community over chaos.” In words apparently chosen to reflect on the criticisms surrounding former President Clinton and his notorious affair with White House intern Monica Lewinsky, Bush says, “I will live and lead by these principles—to advance my convictions with civility, to pursue the public interest with courage, to speak for greater justice and compassion, to call for responsibility, and try to live it as well.” He continues addressing the American people, saying: “I ask you to be citizens. Citizens, not spectators. Citizens, not subjects. Responsible citizens, building communities of service and a nation of character.” At a post-ceremonial luncheon, Bush issues a series of executive orders, some designed to block or roll back several Clinton-era regulations. He also acknowledges that because of the election turmoil, many Americans believe “we can’t get anything done… nothing will happen, except for finger-pointing and name-calling and bitterness.” He then says: “I’m here to tell the country that things will get done. Republicans and Democrats will come together to do what’s right for America.” [New York Times, 1/21/2001]
Thousands of Protesters - Thousands of protesters line the streets during Bush’s ceremonial drive to the Capitol, a fact not heavily reported by many press outlets. Salon reports, “Not since Richard Nixon paraded down Pennsylvania Avenue in 1973 has a presidential inauguration drawn so many protesters—and last time, people were out to protest the Vietnam War.” Though Capitol Police refuse to estimate the size of the crowd lining the street, Salon reports that “many thousands of protesters were in evidence.” Liz Butler of the Justice Action Movement, the umbrella organization that helped coordinate the protests, says: “The level of people on the streets shows that people are really upset about lack of democratic process. They took it to the streets. We saw tens of thousands. We saw far more protesting Bush than supporting him.” Some of the people on the streets are Bush supporters, but many more are not, and carry signs such as “Bush Cheated,” “Hail to the Thief,” “Bush—Racism,” “Bushwhacked by the Supremes,” and others. The crowd, though outspoken in its protests and unrestrained in its heckling of Bush and Vice President Dick Cheney, is generally peaceful, and no serious violence is reported, though a few minor altercations do take place, and large contingents of police in riot gear—including personnel from every police department in the District of Columbia as well as the Bureau of Alcohol, Tobacco and Firearms and from departments in Maryland and Virginia—are on hand. At least one protester throws an egg at the limousine transporting Bush, Cheney, and their families to the inaugural ceremonies; perhaps in response to the protests, Bush breaks with tradition laid down by earlier presidents and does not walk any large portion of the parade route. Nine people are arrested for disorderly conduct, most for allegedly throwing bottles and other debris. Bulter says: “Of course, we’re ashamed that Bush has decided to be a ‘uniter’ by uniting people against him. They all chose to come out in the freezing rain—even the weather couldn’t stop these people.” Protester Mary Anne Cummings tells a reporter: “I think it’s important to remind the incoming administration the country does not want a right-wing mandate. They did not vote for a right-wing mandate.” [Salon, 1/20/2001; CNN, 1/20/2001; New York Times, 1/21/2001] Thousands of protesters march in San Francisco, Los Angeles, and other cities as well. [CNN, 1/20/2001]

CNN reports that despite US government prohibitions (see March 15, 1995 and May 6, 1995) banning US citizens and business from doing business with Iran, dozens of US companies are actively conducting business there, including Halliburton, ConocoPhillips and General Electric. The companies are using a complicated array of corporate loop-holes and off-shore accounts to maneuver around US laws. Michael Ledeen, interviewed by CNN, says these companies are aiding terrorism. “The oil companies are a wholly owned subsidiary of the government… the government is the primary sponsor of terrorism,” he says, additionally claiming that “they have separate organizations that are used to funnel oil profits and other profits into the terror network.” [CNN, 2/10/2003; CNN, 5/29/2003]

Entity Tags: ConocoPhillips, Halliburton, Inc., Michael Ledeen, General Electric

Timeline Tags: US confrontation with Iran

General Electric (GE) follows Halliburton and ConocoPhillips, announcing that the company will no longer accept business from Iran (see May 29, 2003). “Because of uncertain conditions related to Iran, including concerns about meeting future customer commitments, we will not accept any new orders for business in Iran effective Feb. 1,” explains Gary Sheffer, a GE spokesman. “This moratorium on new orders will be re-evaluated as conditions relating to Iran change.” [Associated Press, 2/2/2005; Forbes, 2/2/2005] Under current US law, companies are barred from doing business with nations that the US State Department has said are sponsors of terrorism. However the law does not prohibit a company’s foreign subsidiaries from engaging in such business. [BBC, 7/20/2004; Associated Press, 2/2/2005]

Entity Tags: US Department of State, Halliburton, Inc., General Electric, ConocoPhillips, Gary Sheffer

Timeline Tags: US confrontation with Iran

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