The European Council has announced today, 31 July 2015, that it has adopted the first legal acts to implement the Joint Comprehensive Plan of Action (JCPOA) that was agreed on 14 July and United Nations Security Council Resolution 2231 (2015), adopted on 20 July 2015. The legislation will be published in tomorrow’s Official Journal and allows certain relief to the current EU sanctions, namely to allow: the shipment of nuclear equipment out of Iran, the…
Baker & McKenzie’s market leading international trade team invites you to join them for a free webinar which will provide an update on the latest developments in respect of the recent JCPOA agreement between the EU/E3+3 and Iran. Click here to register now Now that a nuclear deal has been reached, we will be discussing in depth the current state of play, the proposed timeline for sanctions withdrawal, and what risks and opportunities the agreement…
On July 22, 2015 the U.S. Bureau of Industry and Security (“BIS”) issued a final rule amending the Export Administration Regulations, 15 C.F.R. Parts 730-774 (“EAR”), to implement the rescission of Cuba’s designation as a State Sponsor of Terrorism (BIS has also issued FAQs). As discussed in our previous blog posts here and here, the U.S. Secretary of State rescinded the designation of Cuba as a State Sponsor of Terrorism on May 29, 2015, as…
On 14 July 2015, Iran and the EU/E3+3 (China, France, Germany, the Russian Federation, the United Kingdom, the United States, and the European Union) announced that they had agreed on a Joint Comprehensive Plan of Action (“JCPOA” or “Agreement”) regarding the lifting of sanctions currently imposed against Iran. If fully implemented, the JCPOA will ultimately see the comprehensive lifting of all UN Security Council (“UNSC”) sanctions targeting Iran, as well as multilateral and national sanctions…