The European Union External Action Service (EEAS) has published an Information Note detailing the EU nuclear-related economic and financial sanctions that were lifted on Implementation Day pursuant to the JCPOA, the EU legislative framework and the sanctions that remain in place post Implementation Day. For the Note, please see:http://eeas.europa.eu/top_stories/pdf/iran_implementation/information_note_eu_sanctions_jcpoa_en.pdf
Baker & McKenzie London’s Sunny Mann discusses with Sky News the impact of the JCPOA on existing EU and US sanctions against Iran and highlights key practical considerations for companies looking to expand into Iran: http://news.sky.com/video/1625089/tread-carefully-with-iran
On Saturday, January 16, 2016, the International Atomic Energy Agency (“IAEA”) certified that Iran had fulfilled its nuclear-related commitments under the Joint Comprehensive Plan of Action (“JCPOA”) in order for the JCPOA’s “Implementation Day” to take effect. Accordingly, EU and US sanctions relief for Iran that was outlined in the JCPOA has simultaneously gone into effect. The US Secretary of State has confirmed the IAEA’s certification and the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) has issued…
The EU has today extended, until 28 January 2016, the temporary Iran sanctions relief that was agreed under the Joint Plan of Action (and expired on 14 January). The relief is extended while the necessary arrangements and preparations for the implementation of the Joint Comprehensive Plan of Action (JCPOA) take place. See: EU Regulation 2016/31, Council Decision 2016/35 and Council Decision 2016/36.