Washington, Mar 6 (UNI) US President Joe Biden extended for another year the national emergency declared with respect to Iran in 1995, a legal basis for multiple rounds of sanctions related to weapons proliferation and support for militant proxies, the White House announced.

"The national emergency declared on March 15, 1995, must continue in effect beyond March 15, 2021. Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency with respect to Iran declared in Executive Order 12957," the presidential notice said.

Biden said that Iran’s actions and policies "continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States." He accused Iran of proliferating and developing "missiles and other asymmetric and conventional weapons capabilities," maintaining "network and campaign of regional aggression," supporting "terrorist groups and... malign activities of the Islamic Revolutionary Guard Corps."

Executive Order 12957, signed by President Bill Clinton on March 15, 1995, "prohibits certain transactions with respect to the development of Iranian petroleum resources in Iran."

The sanctions were signed less than two weeks after Conoco reached a deal with Iran to develop offshore oil fields. Within a few days, the $1 billion deal would fall apart, prompting Tehran to accuse Washington of betraying its free trade policy, the New York Times reported on March 20, 1995 citing an Iranian economic analyst with close knowledge of the deal.

In May, Clinton expanded the sanctions to include with order 12959, which prohibits the import of all Iranian goods to the United States.

The order signed Friday is not related to the one declared on November 14, 1979, 12170, which was in connection with the hostage crisis.

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