Iran Nuclear Agreement Negotiation Advances Trigger Limited Easing of US and EU Sanctions

Iran’s suspension of sensitive nuclear activities triggers temporary relaxation of certain sanctions, but most restrictions and an aggressive enforcement climate remain in place.

On January 20, 2014, 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). This determination effectively triggered a modest easing of certain US and EU trade and economic sanctions measures maintained against Iran. In return for Iran’s initial steps, the US government has issued limited and temporary waivers of certain US sanctions, and the Council of the European Union has temporarily amended its primary regulation prohibiting certain activities with Iran.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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