President Determines Sufficient Non-Iran Oil Supply Allows Cut in Iranian Purchases
The determination, dated Oct. 28 2026, directs a significant reduction in petroleum purchases from Iran by foreign financial institutions.
The President issued Presidential Determination No. 2027-02 on October 28, 2026, invoking section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012, Public Law 112-81. After reviewing Energy Information Administration reports, including the October 2026 submission, the President concluded that a sufficient supply of petroleum and petroleum products exists from countries other than Iran.
The determination authorizes and directs the Secretary of State, in coordination with the Secretaries of Treasury and Energy, to publish the finding in the Federal Register. It signals a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions.
The President stated that the situation will be monitored closely, noting that the assessment considered global economic conditions and the availability of strategic reserves.
The notice appears in the Federal Register as FR Doc No. 2026-23233, Volume 91, No. 218, page 73425, filed on November 12, 2026, and published November 13, 2026.
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