Iran Sanctions

News & Analysis as of

Sanctions on Iran following preliminary agreement with the P5+1

On 2 April 2015, Iran and the P5+1 nations (United States, United Kingdom, France, Russia, China and Germany) reached a framework agreement in respect of Iran limiting its nuclear programme in exchange for sanctions relief....more

Congressional Panel Approves Legislation on Iran Nuclear Deal

Yesterday, the Senate Foreign Relations Committee unanimously passed legislation that would allow Congress to review—and potentially block—any final deal reached with Iran over its nuclear program. The Iran Nuclear Agreement...more

Preliminary Framework Agreed Upon to Reduce Iran’s Nuclear Program

On April 2, the United States, along with the U.K., France, Germany, Russia, China, and the EU (the “P5+1”), agreed with Iran on a Joint Comprehensive Plan of Action (“JCPOA”). The JCPOA is a preliminary framework to reduce...more

Parameters of Iran Sanctions Relief Announced

On April 2, 2015, the United States and its P5+1 negotiating partners, together with Iran, announced the key parameters of the Joint Comprehensive Plan of Action (JCPOA) regarding Iran’s nuclear program. Further details are...more

United States and Five World Powers Agree on Framework with Iran

On April 2, 2015, the Obama Administration announced that the U.S., Germany, Russia, the U.K., China and France (the “P5+1”) had agreed on the framework of a deal with Iran to address concerns surrounding that country’s...more

Financial Services Weekly News Roundup - April 2015 #2

The SEC Acts to Protect Whistleblowers Against Restrictive Confidentiality Provisions. In a development that should send HR directors and general counsels to review their form confidentiality agreements, the SEC announced...more

President Obama Signs Executive Order Authorizing Sanctions In Response To Malicious Cyber Activity

On April 1, 2015, President Obama signed an executive order authorizing the first sanctions program to combat malicious cyber activity. The order permits the U.S. Department of the Treasury to freeze the assets of...more

Nuclear Agreement Lacks Details on Relaxing Sanctions Against Iran

Although the provisions that limit Iran's nuclear program are spelled out in some detail, those related to relaxing economic sanctions against Iran are quite vague....more

Sanctions implications of the nuclear deal between Iran and the international community

Yesterday, an important tentative deal was agreed between the P5+1, the European Union, and Iran. Below, we look at what elements of the current sanctions could potentially be suspended or lifted if final agreement is reached...more

Framework Agreement reached over Iran’s Nuclear Programme

On 2 April the P5+1, the European Union and Iran agreed to a framework for a Joint Comprehensive Plan of Action (JCPOA framework) regarding Iran’s nuclear programme. Further detail on the JCPOA framework can be found in the...more

P5+1 and Iran Agree on Framework for Joint Comprehensive Plan of Action, Sanctions Easing Expected June 2015

On April 2, 2014, the P5+1 (the United States, Germany, France, the UK, Russia, and China) and Iran reached an agreed-upon framework outlining the roadmap for a future agreement surrounding Iran’s nuclear program that would...more

Update: Iran Nuclear Deal

Iran and the Western powers have agreed to agree again. On April 2, 2015, the so-called P5+1 (the United States, the UK, China, France, and Russia) along with the EU, have joined Iran in announcing that they have reached a...more

Negotiators Agree on Iran Deal Framework Providing Basis for Limited Easing of Sanctions

Thursday, negotiators from the United States, Iran and other world powers announced they have agreed on a framework for a Joint Comprehensive Plan of Action regarding Iran’s nuclear program to be finalized by June 30, 2015....more

The Broader Problem: European Bank Creates an Easy Catch for the Long Arm of U.S. Jurisdiction

On March 12, 2015, Commerzbank AG, Germany’s second largest bank and a global financial institution, agreed to pay $1.45 Billion (yes, with a “B”) in forfeitures and fines to the U.S. Government for violating U.S. sanctions...more

U.S. Government Announces Significant Sanctions Enforcement Actions Against Schlumberger and PayPal

The U.S. Government announced two major sanctions enforcement actions this week that reinforce the compliance challenges faced by both U.S. companies with international activities and non-U.S. companies subject to U.S....more

Schlumberger Faces More Than $232.7 Million in Penalties and Pleads Guilty to Criminal Charges for Violations of U.S. Sanctions

On March 25, 2015, Schlumberger Oilfield Holdings, Ltd. (“SOHL”), a wholly owned subsidiary of Schlumberger Ltd., the world’s largest oil-field services company (collectively “Schlumberger”), agreed to plead guilty to...more

Former Aerospace Engineer Pleads Guilty to Misappropriation of Trade Secrets Intended for Iran

Although it appears that the U.S. and Iran are moving closer to a deal regarding Iran’s nuclear program, Iran’s allies appear to remain committed to acquiring military-grade technology from U.S. companies by way of engineers...more

Energy Newsletter - February 2015

In This Issue: - LEX PETROLEA: Sources and Successes of International Petroleum Law - The Top 10 Questions Facing the LNG Industry in 2015 - Drilling Contracts – Avoiding Misunderstanding - Iran's Upstream...more

After a busy 2014 for sanctions, what can we expect in 2015?

2014 was a very eventful year for sanctions, with both the European Union (EU) and United States (US) making extensive use of trade sanctions to attain foreign policy goals. Certain sanctions measures against Iran were (and...more

U.S. Government Provides Guidance Regarding Certain Temporary Aviation-Related Iran Sanctions Relief

As previously advised, on January 20, 2014, Iran and the group of nations known as the P5+1 (United States, U.K., France, Russia, China and Germany) implemented a Joint Plan of Action (JPOA) whereby Iran agreed to accept...more

The Joint Plan of Action: A Recap of the Easing Of Sanctions Against Iran By The United States And European Union

On 24 November 2013, an agreement was reached between the E3+3 (also known as the P5+1, and which includes the United States, United Kingdom, Russia, China, France and Germany) and Iran....more

OFAC Further Extends Iranian Sanctions Relief

On November 24, 2013, the United States and its negotiating partners, China, France, Germany, Russia, and the United Kingdom (the P5 + 1), reached an initial understanding with Iran concerning its nuclear program, the Joint...more

U.S. and EU Extend Temporary Iran Sanctions Relief a Second Time

The temporary and limited changes to U.S. and European Union (“EU”) sanctions policy for Iran, as agreed under the interim nuclear deal reached by Iran and the P5 + 1 countries, have been extended until June 30, 2015. Most...more

Iran: limited sanctions relief extended to 30 June 2015

In January 2014, both the EU and U.S. brought into force measures which temporarily suspended and relaxed (for an initial period of six months) some of the sanctions in place against Iran. This reflected the Joint Plan of...more

Iran sanctions suspension extended, and other EU sanctions news (Syria, Belarus, Serbia/Montenegro)

This alert summarizes certain recent EU sanctions developments with respect to Iran, Syria, Belarus, and Serbia/Montenegro. In sum, they are as follows: • Iran: Today, the EU decided to extend the existing temporary...more

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