The United States has since 1979 applied various economic, trade, scientific and military sanctions against Iran. United States economic sanctions are administered by the Office of Foreign Assets Control (OFAC), an agency of the United States Department of the Treasury. Currently, United States sanctions against Iran include an embargo on dealings with the country by the United States, and a ban on selling aircraft and repair parts to Iranian aviation companies. The United States has imposed sanctions against Iran 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. Iranian support for the Shia militias in Iraq and the Houthis in the Yemen civil war are also in contention. On 17 May 2018, the European Commission announced its intention to implement the blocking statute of 1996 to declare United States sanctions against Iran null and void in Europe and ban European citizens and companies from complying with them. The EC also instructed the European Investment Bank to facilitate European companies' investment in Iran. Legal basis United States sanctions can be imposed under the National Emergencies Act (NEA) of 1976, the International Emergency Economic Powers Act (IEEPA) of 1977 and the Iran and Libya Sanctions Act of 1996 (ILSA, later renamed to Iran Sanctions Act (ISA)). Declarations under NEA and IEEPA must be renewed annually to remain in effect. Another sanctions law is the Countering America's Adversaries Through Sanctions Act of 2017. Carter presidency United States President Carter imposed sanctions against Iran in November 1979 after radical students seized the United States Embassy in Tehran and took hostages, after the United States permitted the exiled Shah of Iran to enter the United States for medical treatment. froze about US$8.1 billion in Iranian assets, including bank deposits, gold and other properties. It also imposed a trade embargo. The sanctions were lifted in January 1981 as part of the Algiers Accords, which was a negotiated settlement of the hostages’ release. Reagan presidency United States President Ronald Reagan imposed an arms embargo in 1983 on Iran, including United States military spare parts to the military during the Iran–Iraq War (1981–1988). An embargo on Iranian goods and services was imposed in 1987 in response to Iran's actions from 1981 to 1987 against the United States and other vessels in the Persian Gulf and because of Iran's support for terrorism.