Except as otherwise authorized, and notwithstanding any contract entered into or any license or permit granted prior to March 16, 1995, the following are prohibited:

1. (a) The entry into or performance by a United States person, or the approval by a United States person of the entry into or performance by an entity owned or controlled by a United States person, of:

   1. (1) A contract that includes overall supervision and management responsibility for the development of petroleum resources located in Iran, or
   2. (2) A guaranty of another person's performance under such contract; or

2. (b) The entry into or performance by a United States person, or the approval by a United States person of the entry into or performance by an entity owned or controlled by a United States person, of:

   1. (1) A contract for the financing of the development of petroleum resources located in Iran, or
   2. (2) A guaranty of another person's performance under such a contract.