On 18 October 2015 (“Adoption Day”), Iran and the EU/E3+3 (China, France, Germany, the Russian Federation, the United Kingdom, and United States) began preparations to implement their respective commitments under the Joint Comprehensive Plan of Action (“JCPOA”) related to Iran’s nuclear programme. The EU adopted the legislative framework needed to lift its nuclear-related sanctions against Iran, while the U.S. Government issued contingent waivers of certain sanctions. The publication on Adoption Day of measures that would…
It is reported that the E3/EU+3 and Iran have today agreed to extend the Joint Plan of Action (JPOA) until 30 June 2015, having failed to reach a definitive agreement by today’s deadline. It is currently understood that the temporary US and EU sanctions easing will remain in force until this date. Reportedly substantial progress was made during the latest round of talks. According to the British Foreign Secretary Philip Hammond, there will be further…
On Wednesday, 16 July 2014, the Office of Foreign Assets Control in the US Treasury Department announced new sectoral sanctions targeting Russia’s financial services and energy sectors and a sixth group of “Specially Designated Nationals” related to the crisis in Ukraine with the designation of 11 entities and 5 individuals in Crimea and Russia. On the same day, the Bureau of Industry and Security in the US Commerce Department also announced plans to add the…
On Friday, 20 June 2014, the Office of Foreign Assets Control (“OFAC”) in the US Treasury Department announced its fifth group of “Specially Designated Nationals” (“SDNs”) related to the crisis in Ukraine and added seven individuals in Ukraine to the US SDN List pursuant to Executive Order 13660. “U.S. Persons” are now prohibited from dealing (directly or indirectly) with these SDNs and any entities owned 50% or more by any of these SDNs. “U.S. Persons”…