Implementation Day – Iran Sanctions Relief Now Effective

19 January 2016
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Key takeaways

  • Sanctions relief under the Iran nuclear deal took effect on January 16, 2016.
  • The U.S. has suspended most secondary sanctions applicable to non-U.S. companies dealing with Iran, authorized non-U.S. entities owned or controlled by a U.S. person to transact most business with Iran, and removed many entities from U.S. sanctions lists.
  • The EU has terminated the majority of the restrictions on trade and finance transactions with Iran.
  • Despite these changes, important restrictions remain in effect, and firms seeking to do business with Iran should proceed with care.