Recent and upcoming milestones fuel expectations of Iran opportunities in 2016.

As reported in our Client Alert dated July 16, 2015, the Joint Comprehensive Plan of Action (JCPOA) provides for the eventual termination of most European Union (EU) and UN sanctions and a far more limited easing of US sanctions on Iran. While these changes have yet to take effect and are contingent upon a number of remaining steps, recent events suggest that JCPOA implementation and the related easing of sanctions are increasingly likely to occur at some point in the first six months of 2016.