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ARTICLE · 20 JANUARY 2016

Implementation Day: Iran Sanctions Relief Officially Takes Effect

Holland & Knight
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Pursuant to the accord reached between Iran and the P5+1 in July 2015 regarding Iran's nuclear program, the International Atomic Energy Agency has verified that Iran has fulfilled its nuclear obligations.

United StatesInternational Law
Ronald Oleynik
Ronald Oleynik
Jonathan Epstein
Jonathan Epstein
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Ronald Oleynik and Jonathan Epstein are Partners and Farid Hekmat is an Associate in Holland & Knight's Washington D.C. office

IAEA Verifies That Iran Fulfilled Nuclear-Related Obligations Under the Joint Comprehensive Plan of Action

HIGHLIGHTS:

  • Pursuant to the accord reached between Iran and the P5+1 in July 2015 regarding Iran's nuclear program, the International Atomic Energy Agency (IAEA) has verified that Iran has fulfilled its nuclear obligations, and the United States and the European Union (EU) implemented wide-ranging sanctions relief for Iran effective Jan. 16, 2016.
  • While the core U.S. sanctions prohibiting U.S. persons from engaging in most transactions with Iran remain in place, most extraterritorial sanctions involving non-U.S. persons engaged in Iran-related activity have been lifted. Non-U.S. entities owned and controlled by U.S. entities will be permitted to engage in most Iran-related activities

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