Articles Posted in Iran Sanctions

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On April 2, 2015 representatives of the United States, Britain, France, Germany, China and Russia (collectively, the “P5+1” countries) announced that they had agreed with the Islamic Republic of Iran on the Parameters for a Joint Comprehensive Plan of Action Regarding the Islamic Republic of Iran’s Nuclear Program (the “Parameters” or “Framework Agreement”). The Parameters establish a comprehensive framework regarding Iran’s nuclear energy industry and capabilities. The parties have not yet drafted the text of the final agreement and will continue to negotiate implementation details, probably until the June 30, 2015 deadline (with some indications that the deadline could be extended). Meanwhile, U.S., EU and UN sanctions will remain in place until Iran demonstrates verifiable compliance with the key terms of the agreement.

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Japanese companies may face major questions about Iran after June 2015. At that time, significant new opportunities could open in one of the world’s largest undeveloped economies and energy reserves, or the door could remain shut and more severe sanctions policies could impact existing business. It is important to plan ahead to ensure any activities are undertaken in compliance with sanctions requirements. Here is what you need to know.

The P5 + 1 countries and Iran have a self-imposed deadline to reach a framework for a final nuclear agreement by the end of March 2015. The negotiating period for the current interim nuclear accord expires on June 30, 2015. This marks a crucial pivot point:

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