Iran sanctions - US and EU announce framework agreement including proposals to suspend sanctions

On April 2, 2015 representatives from the US, EU and Iran announced that, following extensive negotiations, the "P5+1" (China, France, Germany, Russia, the UK and the US) and Iran had agreed parameters (the "Parameters") for a joint comprehensive plan of action regarding Iran's nuclear program (the "JCPOA").  Whilst the final provisions of the JCPOA have yet to be agreed, the Parameters set out the framework around which the JCPOA will be drafted between now and June 30 and include the provision for significant relaxations of UN, US and EU sanctions currently in force against Iran. 

Our briefing summarizes the proposed JCPOA provisions regarding the suspension of existing sanctions against Iran.  It is important to note that no steps have yet been taken by the US, EU or UN to alter the current sanctions framework and so all sanctions in force prior to publication of the Parameters remain in place.

Please see our previous briefing on the implementation of November 2013's Joint Plan of Action for further details of the current US and EU sanctions against Iran.