Clinton Imposes Total US Trade Embargo on Iran

President Clinton signs executive orders establishing a complete US oil and trade embargo on Iran, significantly escalating economic pressure over Tehran's nuclear and terrorism activities.

In 1995, President Bill Clinton signed two executive orders that prohibited US companies and their foreign subsidiaries from trading with Iran, and banned US involvement in the development of Iranian petroleum resources. The following year, Congress passed the Iran and Libya Sanctions Act, which imposed penalties on foreign companies investing in Iran's energy sector. Washington cited Iran's nuclear ambitions, its support for Hezbollah and Hamas, and its opposition to the Israeli-Palestinian peace process. The sanctions dealt a significant blow to Iran's oil revenues and set the framework for the economic pressure that would intensify dramatically under subsequent administrations. Iran denounced the moves as economic warfare.