Overview of Sanctions Relief in Nuclear Deal with Iran

On July 20, 2015, the United Nations Security Council (UNSC) unanimously adopted resolution 2231 endorsing the final nuclear deal agreed between the P5+1 (China, France, Russia, the United Kingdom, and the United States (US), plus Germany), the European Union (EU), and Iran. The deal includes commitments to suspend or lift certain UN, US, and EU sanctions targeting Iran. We describe below these commitments and the anticipated timeline for sanctions relief.

On July 14, 2015, the P5+1, the EU, and Iran announced the “Joint Comprehensive Plan of Action” (JCPOA) regarding the Islamic Republic of Iran’s nuclear program. In the JCPOA, Iran agrees to curtail its nuclear program significantly to ensure peaceful civilian use and reaffirms that under no circumstances will Iran ever seek, develop or acquire any nuclear weapons. In return, and upon verification that Iran is abiding by the terms of the deal, the UN, the EU, and the US agree to provide Iran with relief from certain nuclear-related sanctions. This relief is outlined in a step-by-step approach based on the fundamental premise that no sanctions will be suspended or lifted until the International Atomic Energy Agency (IAEA) verifies that Iran has implemented certain agreed nuclear-related measures, including in relation to transparency and IAEA monitoring. Timing of the initial implementation of the JCPOA is uncertain, but could take up to six months or longer. As a first step, the UNSC adopted resolution 2231.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

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.

© White & Case LLP | Attorney Advertising

Written by:

White & Case LLP

White & Case LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.