text: The Iran and Libya Sanctions Act (ILSA) was signed into law on 5 August 1996 by President Clinton. ISA (the renamed ILSA in 2006) targets both American and non-American businesses that make investments over $20 million in Iran for the development of petroleum resources in Iran. They face having imposed against them two out of seven possible penalties by the United States:
  denial of Export-Import Bank assistance,
  denial of export licenses for exports to the violating company,
  prohibition on loans or credits from United States financial institutions of over $10 million in any 12-month period,
  prohibition on designation as a primary dealer for United States government debt instruments,
  prohibition on serving as an agent of the United States or as a repository for U.S. government funds,
  denial of United States government procurement opportunities (consistent with WTO obligations), and
  a ban on all or some imports of the violating company.
  ISA was extended several times under the presidency of George W. Bush, and on December 1, 2016, it was extended under President Barack Obama, before vacating office, for a further ten years.
  Early Khatami government
  After the election of Iranian reformist President Mohammad Khatami in 1997, President Clinton eased sanctions on Iran. In 2000 the sanctions for items such as pharmaceuticals, medical equipment, caviar and Persian rugs were reduced.