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Web alert: Iran sanctions - Period of limited sanctions relief under the Joint Plan of Action extended to 30 June 2015

28 November 2014

Following further talks at Vienna concerning the Iranian nuclear programme, the P5+1 / E3+3 (the three EU states of France, Germany and the UK plus the USA, Russia and China) and Iran have agreed to further extend the Joint Plan of Action interim agreement. This will now continue until 30 June 2015. Within this additional period further negotiations will take place with a view to achieving a final, comprehensive agreement.

As a result, the period of limited easing of sanctions against Iran under the Joint Plan of Action has been extended to 30 June 2015. We refer to our web alerts on 3 February 2014 and 21 July 2014 for more details of both the EU and US sanctions and the limited easing of these. Warnings in those web alerts continue to apply.

The US Department of the Treasury and the Department of State have also issued updated Guidance and FAQS. Links to these and a helpful client alert produced by Freehill Hogan & Mahar LLP may be found under US links on the right of this page.