Clinton presidency United States President Bill Clinton imposed some of the toughest sanctions against Iran in March 1995, during the presidency of Akbar Hashemi Rafsanjani, in response to the Iranian nuclear program and Iranian support for Hezbollah, Hamas, and Palestine Islamic Jihad, that are considered terrorist organizations by the United States under , to prohibit the United States from trading in Iran's oil industry. In May 1995 Clinton also issued to prohibit the United States from trading with Iran. Trade with the United States, which had been growing since the end of the Iran–Iraq War, ended abruptly. Iran and Libya Sanctions Act 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. Bush presidency In February 2004, during the final year of Khatami's presidency, the United States Department of the Treasury in the presidency of George W. Bush ruled against editing or publishing scientific manuscripts from Iran, and stated that the American scientists collaborating with Iranians could be prosecuted. As a consequence, the Institute of Electrical and Electronics Engineers (IEEE) temporarily stopped editing manuscripts from Iranian researchers and took steps to clarify the OFAC guidelines concerning its publishing and editing activities. In