In January 2014, both the EU and U.S. brought into force measures which temporarily suspended and relaxed (for an initial period of six months) some of the sanctions in place against Iran. This reflected the Joint Plan of Action (JPOA) agreed to in November 2013 between Iran and the E3+3, also known as the P5+1, which includes, the U.S., Russia, China, the UK, France, and Germany. Those measures were discussed in our alerts of 24 July 2014 and 23 January 2014.
Click here for the issued Client Alert.