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.
Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...See profile for Maya Lester QC >