EU extends Iran sanctions relief by 2 weeks

The EU has today extended its Iran sanctions relief for 2 weeks, in order to allow time for the implementation of the JCPOA nuclear deal that officials have said is likely to take place in next few days.

EU sanctions relief was originally agreed in November 2013 as part of the Joint Plan of Action that preceded the JCPOA (see previous blog). It was extended in July 2015 for 6 months until 14 January 2016 following the agreement of the JCPOA in order to give the IAEA the chance to make its report (see previous blog).  The relief eases EU sanctions on Iran’s petrochemical exports, gold, and precious metals, prohibits further nuclear-related sanctions, establishes a financial channel for humanitarian trade with Iran, and increases the monetary threshold for transactions involving Iran before authorisation is required.

This entry was posted in Iran, Latest EU Measures by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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