13-03-03 President Bush renewed sanctions established eight years ago barring US citizens or companies from entering into oil development contracts in Iran.
Amid signs that Iran is moving more aggressively than previously thought to build nuclear weapons, Bush extended for another year measures put in place by then-President Bill Clinton in March 1995.

Those sanctions blocked Americans from financing, supervising or managing oil development projects in Iran.
"Because the actions and policies of the government of Iran continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States, the national emergency declared on March 15, 1995, must continue in effect beyond March 15, 2003," Bush said in his executive order.