CLINTON BANS ALL U.S. TRADE WITH IRAN

As expected, President Clinton last week signed an executive order that bans all U.S. trade with Iran, most of which is in the oil sector. The administration said the action was justified by Iran's sponsorship of terrorism, actions against the Middle I East peace process, and its campaign to develop nuclear weapons (OGJ, May 8, p. 26). Also last week, the U.S. asked Japan to join its trade embargo against Iran. However, sources said Tokyo is not likely to stop buying Iranian oil, which

May 15, 1995

As expected, President Clinton last week signed an executive order that bans all U.S. trade with Iran, most of which is in the oil sector.

The administration said the action was justified by Iran's sponsorship of terrorism, actions against the Middle I East peace process, and its campaign to develop nuclear weapons (OGJ, May 8, p. 26).

Also last week, the U.S. asked Japan to join its trade embargo against Iran. However, sources said Tokyo is not likely to stop buying Iranian oil, which accounts for almost 10% of Japan's oil imports.