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.
Key contacts
Andrew Cannon
Partner, Global Co-Head of International Arbitration and of Public International Law, London
Christian Leathley
Partner, Co-Head of the Latin America Group, Co-Head of the Public International Law Group, US Head of International Arbitration, London
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.