Worldwide: P5 +1 And Iran Achieve Implementation Day, Triggering Suspension Of Certain U.S. And International Sanctions Against Iran

On January 16, 2016, the United States announced the suspension of certain sanctions against Iran pursuant to the landmark agreement reached on July 14, 2015 between the P5 + 1 – the United States, the United Kingdom, France, China, Russia and Germany – and Iran regarding Iran's nuclear program. The Joint Comprehensive Plan of Action ("JCPOA") came into effect on October 18, 2015 ("Adoption Day"), when Iran began to implement its commitments thereunder, including alterations to its current nuclear infrastructure and reductions in its nuclear fuel centrifuges and materials. The International Atomic Energy Agency ("IAEA") verified Iran's implementation of such commitments on January 16, 2016 ("Implementation Day"), triggering the obligations of the United Nations Security Council ("UNSC"), the European Union ("EU") and the United States under the JCPOA to lift certain economic and financial sanctions previously imposed against Iran.

The Implementation Day sanctions relief includes suspension of U.S. nuclear-related 'secondary sanctions' against Iran, which generally apply to non-U.S. persons (i.e., foreign individuals and corporations). In particular, as of Implementation Day, non-U.S. persons may engage in certain dealings involving:

  • Iran's financial, banking, energy, petrochemical, shipping, shipbuilding, and automotive sectors;
  • Iran's trade in gold and other precious metals;
  • Iran's trade in graphite, raw or semi-finished metals (such as aluminum and steel), coal and software for integrating certain industrial processes; and
  • the provision of services, including insurance, re-insurance and underwriting, necessary and ordinarily incident to the underlying activity for which sanctions have been suspended under the JCPOA.

Such sanctions relief also includes the removal of over 400 individuals and entities from the U.S. Department of the Treasury, Office of Foreign Assets Control ("OFAC") Specially Designated Nationals and Blocked Persons List, Foreign Sanctions Evaders List and Non-SDN Iran Sanctions Act List. Pursuant to the United States' other JCPOA commitments, OFAC also issued on Implementation Day: (i) a statement of licensing policy establishing a favorable disposition with respect to applications for authorization to export or otherwise provide to Iran commercial passenger aircraft and related parts and services for exclusively civil, commercial passenger aviation use; (ii) a general license authorizing U.S.-owned or -controlled foreign entities to engage in certain dealings involving Iran; and (iii) a general license authorizing importation into the United States of Iranian-origin carpets and certain foodstuffs. Separately, as of Implementation Day, the UNSC terminated all provisions of previous UNSC resolutions on the Iranian nuclear issue and the EU terminated all nuclear-related economic and financial sanctions against Iran.

It should be noted that the sanctions relief afforded by the United States in connection with Implementation Day does not involve – and the U.S. government has given no indication that it is contemplating – the lifting of any U.S. sanctions imposed against Iran and certain Iranian entities and individuals based on support for terrorism, human rights violations or ballistic missile development. Subject to limited exceptions and licenses, including those referenced above, U.S. persons (i.e., U.S. nationals and permanent residents and corporations domiciled or registered in the United States) remain broadly prohibited from engaging in activities in, with or involving Iran. Therefore, U.S. corporations and nationals, including U.S. citizens working for foreign companies, must remain mindful and vigilant of U.S. sanctions in connection with any dealings involving Iran.

The next significant milestone under the JCPOA is expected to occur on the earlier of the date when the IAEA reaches the conclusion that all nuclear material in Iran remains in peaceful activities or the date that is 8 years after Adoption Day ("Transition Day"). Upon Transition Day, the EU will terminate all provisions of EU proliferationrelated sanctions (including restrictions on ballistic missile transfers) and the United States will seek legislative action to terminate or modify certain U.S. sanctions on the acquisition of nuclear-related commodities and services. Should Iran fail in the meantime to abide by its JCPOA commitments, any particular sanctions lifted by the UNSC, EU or United States pursuant to the JCPOA may 'snap back' into place.

This Client Alert is not comprehensive as to the full scope of UNSC, EU or U.S. sanctions against Iran and is only a summary of certain key actions taken on Implementation Day and other related elements of the JCPOA.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

In association with
Related Video
Up-coming Events Search
Font Size:
Mondaq on Twitter
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Check to state you have read and
agree to our Terms and Conditions

Terms & Conditions and Privacy Statement (the Website) is owned and managed by Mondaq Ltd and as a user you are granted a non-exclusive, revocable license to access the Website under its terms and conditions of use. Your use of the Website constitutes your agreement to the following terms and conditions of use. Mondaq Ltd may terminate your use of the Website if you are in breach of these terms and conditions or if Mondaq Ltd decides to terminate your license of use for whatever reason.

Use of

You may use the Website but are required to register as a user if you wish to read the full text of the content and articles available (the Content). You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these terms & conditions or with the prior written consent of Mondaq Ltd. You may not use electronic or other means to extract details or information about’s content, users or contributors in order to offer them any services or products which compete directly or indirectly with Mondaq Ltd’s services and products.


Mondaq Ltd and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published on this server for any purpose. All such documents and related graphics are provided "as is" without warranty of any kind. Mondaq Ltd and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Mondaq Ltd and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from this server.

The documents and related graphics published on this server could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Mondaq Ltd and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time.


Mondaq Ltd requires you to register and provide information that personally identifies you, including what sort of information you are interested in, for three primary purposes:

  • To allow you to personalize the Mondaq websites you are visiting.
  • To enable features such as password reminder, newsletter alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our information providers who provide information free for your use.

Mondaq (and its affiliate sites) do not sell or provide your details to third parties other than information providers. The reason we provide our information providers with this information is so that they can measure the response their articles are receiving and provide you with information about their products and services.

If you do not want us to provide your name and email address you may opt out by clicking here .

If you do not wish to receive any future announcements of products and services offered by Mondaq by clicking here .

Information Collection and Use

We require site users to register with Mondaq (and its affiliate sites) to view the free information on the site. We also collect information from our users at several different points on the websites: this is so that we can customise the sites according to individual usage, provide 'session-aware' functionality, and ensure that content is acquired and developed appropriately. This gives us an overall picture of our user profiles, which in turn shows to our Editorial Contributors the type of person they are reaching by posting articles on Mondaq (and its affiliate sites) – meaning more free content for registered users.

We are only able to provide the material on the Mondaq (and its affiliate sites) site free to site visitors because we can pass on information about the pages that users are viewing and the personal information users provide to us (e.g. email addresses) to reputable contributing firms such as law firms who author those pages. We do not sell or rent information to anyone else other than the authors of those pages, who may change from time to time. Should you wish us not to disclose your details to any of these parties, please tick the box above or tick the box marked "Opt out of Registration Information Disclosure" on the Your Profile page. We and our author organisations may only contact you via email or other means if you allow us to do so. Users can opt out of contact when they register on the site, or send an email to with “no disclosure” in the subject heading

Mondaq News Alerts

In order to receive Mondaq News Alerts, users have to complete a separate registration form. This is a personalised service where users choose regions and topics of interest and we send it only to those users who have requested it. Users can stop receiving these Alerts by going to the Mondaq News Alerts page and deselecting all interest areas. In the same way users can amend their personal preferences to add or remove subject areas.


A cookie is a small text file written to a user’s hard drive that contains an identifying user number. The cookies do not contain any personal information about users. We use the cookie so users do not have to log in every time they use the service and the cookie will automatically expire if you do not visit the Mondaq website (or its affiliate sites) for 12 months. We also use the cookie to personalise a user's experience of the site (for example to show information specific to a user's region). As the Mondaq sites are fully personalised and cookies are essential to its core technology the site will function unpredictably with browsers that do not support cookies - or where cookies are disabled (in these circumstances we advise you to attempt to locate the information you require elsewhere on the web). However if you are concerned about the presence of a Mondaq cookie on your machine you can also choose to expire the cookie immediately (remove it) by selecting the 'Log Off' menu option as the last thing you do when you use the site.

Some of our business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies and we are not aware of any at present that do so.

Log Files

We use IP addresses to analyse trends, administer the site, track movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.


This web site contains links to other sites. Please be aware that Mondaq (or its affiliate sites) are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of these third party sites. This privacy statement applies solely to information collected by this Web site.

Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.


If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.


This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at and we will use commercially reasonable efforts to determine and correct the problem promptly.