Presidential Report on Iran: Key Developments and Trade Restrictions

President Bill Clinton's report to Congress on May 14, 1994, highlighted the ongoing national emergency with respect to Iran, declared in Executive Order No. 12170 of November 14, 1979. The report covered events through March 31, 1994, and outlined the continued implementation of trade restrictions on exports to Iran. Key developments included the Office of Foreign Assets Control's (FAC) granting of trade licenses to companies wishing to conduct trade with Iran, despite a substantial majority of applications being deemed ineligible for licensing. The U.S. Customs Service also continued to seize Iranian-origin merchandise, primarily carpets, for violating import prohibitions. The report also noted progress in the Iran-United States Claims Tribunal, with a total of 551 awards rendered, including 371 in favor of American claimants.

Key Takeaways:

• The Office of Foreign Assets Control (FAC) continued to process applications for import licenses under the Iranian Transactions Regulations, with a substantial majority being deemed ineligible for licensing.
• The U.S. Customs Service seized numerous Iranian-origin merchandise items, primarily carpets, for violating import prohibitions.
• The Iran-United States Claims Tribunal rendered 4 awards since the last report, bringing the total number to 551, with 371 awards in favor of American claimants.
• The Federal Reserve Bank of New York reported the value of awards to successful American claimants from the Security Account held by the NV Settlement Bank at $2,344,330,685.87 as of March 31, 1994.
• The U.S. Department of State continued to present other U.S. Government claims against Iran and to respond to claims brought against the United States by Iran.
• Jose Maria Ruda, President of the Tribunal, tendered his resignation on October 2, 1992, and was replaced by Professor Krysztof Skubiszewski, who was also appointed Chairman of Chamber Two of the Tribunal and President of the Tribunal on February 16, 1994.
• The Foreign Claims Settlement Commission (FCSC) reviewed 3,112 claims of U.S. nationals, with decisions issued in 2,538 claims and total awards of more than $40 million as of March 31, 1994.

Statistics:

• Total number of awards rendered by the Iran-United States Claims Tribunal: 551 (as of March 31, 1994)
• Number of awards in favor of American claimants: 371 (as of March 31, 1994)
• Value of awards to successful American claimants from the Security Account held by the NV Settlement Bank: $2,344,330,685.87 (as of March 31, 1994)
• Total amount in the Security Account: $212,049,484.05 (as of March 31, 1994)
• Total amount in the Interest Account: $15,548,176.62 (as of March 31, 1994)
• Number of claims reviewed by the Foreign Claims Settlement Commission: 3,112 (as of March 31, 1994)
• Number of decisions issued by the Foreign Claims Settlement Commission: 2,538 (as of March 31, 1994)
• Total awards issued by the Foreign Claims Settlement Commission: more than $40 million (as of March 31, 1994)

Sources:

• Executive Order No. 12170 of November 14, 1979
• Executive Order No. 12613 of October 29, 1987
• Iranian Transactions Regulations, 31 CFR Part 560
• Iranian Assets Control Regulations, 31 CFR Part 535
• Report to the Congress of the United States, May 14, 1994
• The White House, Office of the Press Secretary, May 16, 1994