Tel: (860) 651-8544

Iran- Limited Sanctions Relief

A Joint Comprehensive Point of Action (JCPOA) was reached on July 14 by the P5 +1 countries and Iran.  The JCPOA will allow Iran sanction relief once it has met its responsibilities under the proposed treaty for “key nuclear commitments”.  At this time, the US will be providing sanction relief by easing secondary sanctions (i.e. sanctions against non U.S. persons doing business with Iran) once the Iran has met its commitments and they have been verified by the International Atomic Energy Agency. This is known as “Implementation Day”.  Sanction relief previously granted by the P5 +1 countries to Iran in November 2013 will also be extended until otherwise announced. Additionally, all licenses issued under the “Second Amended Statement of Licensing Policy on Activities Related to the Safety of Iran’s Civil Aviation Industry” that expire before July 14, 2015 may continue being used until Implementation Day.

Comments are closed.