Withdrawal from the JCPOA will lead to re-imposition of several categories of US sanctions.

On May 8, 2018, President Trump announced that the United States will withdraw from the Joint Comprehensive Plan of Action (JCPOA), the nuclear non-proliferation agreement that the P5+1 countries (China, France, Germany, Russia, the United Kingdom, and the US) and Iran implemented in January 2016. During the announcement, the President signaled his intent to impose “the highest level of economic sanction” against Iran, and released a Presidential Memorandum directing the Secretary of State and the Secretary of the Treasury to “immediately” take the necessary steps to re-impose all US sanctions lifted or waived in connection with the JCPOA. As discussed below, the re-imposed sanctions will have the potential to reach any person or entity in the world that engages in certain types of transactions involving Iran.