Sanctions update: Sanctions relief announced under historic agreement concerning Iran’s nuclear programme

European Union, Organisations, Sanctions — By on July 14, 2015 at 6:03 PM
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Sanctions Relief Announced Under Historic Agreement Concerning Iran’s Nuclear Programme

The E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom and the United States, with the High Representative of the European Union for Foreign Affairs and Security Policy) announced an agreement today with the Islamic Republic of Iran to limit Iran’s nuclear programme in exchange for sanctions relief.

Under the new Joint Comprehensive Plan of Action (“JCPoA”) agreed in Vienna, Iran has reaffirmed that under no circumstances will it ever develop or acquire any nuclear weapons. If fully implemented, the JCPoA will result in the comprehensive lifting of all UN Security Council sanctions as well as multilateral and national sanctions related to Iran’s nuclear programme, which will allow access to Iran’s trade, marine, technology, finance, and energy sectors.

 

However, a number of hurdles remain to be cleared before any sanctions are lifted.

 

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