The legal landscape for doing business in Iran has changed
significantly in the past seven months. On July 14, 2015, the P5+1
(the United States, the United Kingdom, Germany, France, China and
Russia), the European Union and Iran agreed and signed a Joint
Comprehensive Plan of Action ("JCPOA")
contemplating the easing of certain Iran related sanctions. On
October 18, 2015, Adoption Day, the JCPOA came into effect and
signatories began embarking on the steps necessary for
implementation of the JCPOA. Recently, on January 16, 2016, and
after the International Atomic Energy Agency's verification of
Iran's commitments under the JCPOA, the United Nations, the
European Union and the United States ceased the application of
sanctions relating to certain sectors of business activity with
respect to Iran (i.e. no longer restricting non-US persons from
engaging in the following activities) including:
