On March 30, President Obama issued the following memorandum for the Secretary of State, the Secretary of the Treasury, the Secretary of Energy.
By the authority vested in me as President by the Constitution and the laws of the United States, after carefully considering the report submitted to the Congress by the Energy Information Administration on February 29, 2012, and other relevant information, and given current global economic conditions, increased production by certain countries, the level of spare capacity, and the existence of strategic reserves, among other factors, I determine, pursuant to section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012, Pub1ic Law 112-81, that there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions.
I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran. The Secretary of State is authorized and directed to publish this memorandum in the Federal Register.
BARACK OBAMA
To view the statement on the White House website, click here.
Clinton on U.S. Security Role in the Gulf
After talks with King Abdullah of Saudi Arabia, Secretary of State Hillary Clinton pledged full U.S. support for securing the Gulf’s oil-rich nations. The following is an excerpt from her press conference with Saudi Foreign Minister Saud al Faisal:
In today’s inaugural session of the Strategic Cooperation Forum, I underscored the rock-solid commitment of the United States to the people and nations of the Gulf. … We believe this forum will offer opportunities to deepen and further our multilateral cooperation on shared challenges, including terrorism, nuclear proliferation, and piracy, as well as broader economic and strategic ties. Among other things, it should help the American and Gulf Cooperation Council militaries pursue in concert a set of practical steps, such as improving interoperability, cooperating on maritime security, furthering ballistic missile defense for the region, and coordinating responses to crises. Let me turn to a few of the specific challenges facing the region that we discussed.
I will start with Iran, which continues to threaten its neighbors and undermine regional security, including through its support for the Assad regime’s murderous campaign in Syria, threats against the freedom of navigation in the region, and interference in Yemen. The entire world was outraged by reports that Iran was plotting to assassinate the Saudi ambassador to the United States and by allegations of Iranian involvement in recent terrorist attacks in India, Georgia, and Thailand.
Of course, the most pressing concern is over Iran’s nuclear activities. The international community’s dual-track approach has dramatically increased pressure on Iran through crippling sanctions and isolation, while at the same time leaving open the door if Iran can show it is serious about responding to these legitimate international concerns. It soon will be clear whether Iran’s leaders are prepared to have a serious, credible discussion about their nuclear program, whether they are ready to start building the basis of a resolution to this very serious problem. It is up to Iran’s leaders to make the right choice. We will see whether they will intend to do so starting with the P-5+1 negotiations in Istanbul, April 13th-14th. What is certain, however, is that Iran’s window to seek and obtain a peaceful resolution will not remain open forever.