Iran's Nuclear Agreement Negotiations Ease Certain US and EU Sanctions
Type
E-journal
Date
17 Feb 2014
Jurisdiction
Iran, European Union, USA
Taxonomy
Atomic Energy & Radioactive Substances, Sanctions, Settlement of International Disputes
Copyright
LexisNexis
Relevant company
Latham & Watkins LLP
Analysis
Earlier this year, the International Atomic Energy Agency confirmed that Iran had met its initial obligations under the Joint Plan of Action (Joint Plan) with the “P5+1” (the United States, the United Kingdom, France, Russia, China and Germany). Iran's suspension of sensitive nuclear activities triggered temporary relaxation of certain sanctions, but most restrictions and an aggressive enforcement climate remain in place. The US government has cautioned that the sanctions relief is “limited, temporary, targeted, and reversible.”
Limited Impact on Direct US Sanctions Against Iran
Comprehensive US trade and economic sanctions have prohibited US persons and US companies from engaging in or supporting virtually all forms of business involving Iran. These sanctions generally remain in place.
Limited Exceptions to the Rule
• Humanitarian Trade
• Civil Aviation Activities.
Targeted Impact on Secondary US Sanctions Against Iran