On 16 January 2016, or "Implementation Day", legislation in the United States ("US") and European Union ("EU") came into effect, relaxing significantly the sanctions in place against Iran. This followed the issuing of a report by the International Atomic Energy Agency ("IAEA") to the UN Security Council, confirming that Iran had complied with its commitments under the Joint Comprehensive Plan of Action ("JCPOA").
The JCPOA foresaw the lifting of the EU's nuclear-related sanctions, and US secondary sanctions, upon the fulfilment by Iran of certain nuclear-related commitments, as verified by the IAEA. In recent weeks the projected timescales for this were shortened, and Implementation Day took place on 16 January 2016. Implementation Day has brought into effect very significant relief against the sanctions previously in effect against Iran. In our briefing, we set out the key changes to the sanctions regimes and consider the potential implications for business.
Key contacts
Karen Anderson
Consultant, London
Susannah Cogman
Partner, London
Elizabeth Head
Of Counsel, London
Marina Reason
Partner, London
Kelesi Blundell
Partner, London
Hywel Jenkins
Partner, London
Chris Ninan
Partner, London
Jon Ford
Partner, London
Clive Cunningham
Consultant, London
Chee Hian Kwah
Director, Prolegis LLC, Singapore
Valerie Tao
Knowledge Lawyer, Hong Kong
Cat Dankos
Senior Regulatory Consultant, London
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