On July 7, 2015, the P5+1, the EU, and Iran announced a further extension of the Joint Plan of Action (“JPOA”) for three days in order to continue ongoing nuclear negotiations, which had previously been extended through July 7 after a failure to meet the initial deadline of June 30, 2015. Both the US Government and the EU have announced that the temporary sanctions relief provided for in the JPOA will now be extended through…
The US House of Representatives passed the Iran Nuclear Agreement Review Act of 2015 http://www.gpo.gov/fdsys/pkg/BILLS-114hr1191enr/pdf/BILLS-114hr1191enr.pdf on May 14, 2015 by a vote of 400 to 25. On May 18, 2015, this legislation was presented to President Obama, who is expected to sign it into law. It requires that any final nuclear deal reached with Iran as part of the P5+1 negotiations with Iran be presented to Congress within 5 calendar days. Parties to the negotiations…
Today, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the US Commerce Department’s Bureau of Industry and Security (“BIS”) issued final rules amending the Cuban Assets Control Regulations (“CACR”) and the Export Administration Regulations (“EAR”), respectively, to implement key policy changes to the US embargo of Cuba (the “Amendments”). The policy changes were originally announced by President Obama on December 17, 2014 (we reported on the President’s December 17th announcement in a…