US sanctions are not immediately lifted due to the announcement.
On July 14, the United States, European Union, United Kingdom,
France, China, Russia, and Germany (P5+1/E3/EU+3 countries) and
Iran reached a Joint Comprehensive Plan of Action (JCPOA) deal
regarding Iran's nuclear program. The JCPOA, if fully
implemented, will provide Iran with phased US and EU sanctions
relief upon verification that Iran has implemented key nuclear
commitments outlined in the JCPOA.
Implementation Date
US sanctions relief is to be provided through the suspension
(and eventual termination) of nuclear-related secondary sanctions.
Under the JCPOA, the sanctions relief will be initiated after the
International Atomic Energy Agency (IAEA) verifies that Iran has
implemented key nuclear-related measures (Implementation Day). The
estimated time frame for when Implementation Day will occur is
December 2015. Of course, there is no certain date or assurance
that the IAEA will be able to
