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JCPOA

On January 16, 2016, the International Atomic Energy Agency (IAEA) verified that Iran had met its obligations under JCPOA (Joint Comprehensive Plan of Action). In light of this, on January 21, both the Executive Office (through an Executive Order) and OFAC published a revocation of nuclear-related sanctions of Iran. Hundreds of names were removed from the U.S. government sanctioned parties lists. Additionally, sanctions that had been removed in July under JCPOA were extended, including allowing U.S. exporters to obtain licenses to export parts and components to Iran for commercial passenger aircraft.

The majority of sanctions on Iran will remain, despite JCPOA implementation. Secondary sanctions (sanctions on non U.S. parties) have been more effected than primary sanctions. While some secondary sanctions will remain, secondary sanctions with the oil, shipping, and gold industry have been greatly reduced.

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