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ARTICLE · 27 JANUARY 2016

Significant Changes To U.S. And E.U. Sanctions Against Iran

Ropes & Gray LLP
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On January 16, 2016, the United States and the European Union lifted or substantially amended many nuclear proliferation-related sanctions against Iran.

United StatesInternational Law
Ropes & Gray LLP'S Anti-Corruption / International Risk Practice
Ropes & Gray LLP'S Anti-Corruption / International Risk Practice
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Overview

On January 16, 2016, the United States and the European Union lifted or substantially amended many nuclear proliferation-related sanctions against Iran. This date constitutes Implementation Day as specified in the Joint Comprehensive Plan of Action ("JCPOA").

The terms of the JCPOA were agreed between Iran and what is known as the P5+1 in the United States and the E3/EU+3 in Europe1 on July 14, 2015. The JCPOA provides for a phased lifting of nuclear-related sanctions over an eight- to ten-year period if Iran meets various conditions relating to its nuclear program. The United States and European Union both significantly modified their sanctions related to Iran on Implementation Day after the International Atomic Energy Agency verified that Iran had complied with its initial nuclear-related commitments under the JCPOA. 

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