On July 14, 2015, the "P5+1" working group (China,
France, Germany, Russia, the UK and the US) reached an agreement
with the Government of Iran to adopt the Joint Comprehensive Plan
of Action (the "JCPOA"). This announcement capped a final
18-day marathon negotiating session, and comes after years of
discussions among the parties about Iran's nuclear program.
While the precise date on which broad spectrum sanctions relief
will occur has not yet been set, the JCPOA provides a framework for
doing so. The JCPOA is intended to provide Iran with significant
sanctions relief in exchange for assurances regarding the peaceful
and civilian nature of its nuclear program, commitments by Iran not
to pursue certain weapons proliferation activities, and certain
opportunities for inspections and monitoring of compliance with
these commitments. In sum, the sanctions relief allows Iran to
re-engage in the global economy, including the energy markets, and
effectively rolls back
