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ARTICLE · 20 JANUARY 2016

Landmark Sanctions Relief For Iran Takes Effect

Dentons
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As regards the EU and UK, most of the nuclear sanctions targeting Iran's energy, mining, financial and shipping sectors have been removed.

GlobalInternational Law
Michael Zolandz
Michael Zolandz
Andrew Cheung
Andrew Cheung
Ramin Hariri
Ramin Hariri
Paul Lalonde
Paul Lalonde
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As you may well have seen from the extensive media coverage this weekend, following certification by the International Atomic Energy Agency (IAEA) that the Government of Iran had met its obligations under the P5+1 Nuclear Agreement, the United States and European Union have now relaxed substantial portions of their sanctions regimes against Iran. The central components of the Joint Comprehensive Plan of Action (JCPOA) are the roll-back of sanctions against the Iranian petroleum, petrochemical, oil and natural gas sectors, restoration of financial ties to certain Iranian banks (including the Central Bank of Iran), and the elimination of the vast majority of US extra-territorial sanctions imposed after 2012.

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