What Sanctions Have Been Lifted
In a major milestone under the terms of the 2015 Vienna
Agreement (the "JCPOA"), the International Atomic Energy
Agency confirmed on 16 January 2016 that Iran had implemented its
nuclearrelated commitments, thereby ushering in the agreement's
"Implementation Day." Accordingly, most EU sanctions as
well as US "secondary sanctions" (those applicable to
non-US entities with certain "contacts" with the US)
against Iran have been lifted, and non-US persons and entities may
now engage in a wide variety of Iran-related transactions. Sectors
of the Iranian market now open to investment and exports include,
without limitation: energy and petrochemicals, oil and gas,
shipping, mining, aviation, automobiles, spare parts/components,
pharmaceutics and hotels & leisure.
