On 16 January 2016, or "Implementation Day", legislation in the United States ("US") and European Union ("EU") came into effect, relaxing significantly the sanctions in place against Iran. This followed the issuing of a report by the International Atomic Energy Agency ("IAEA") to the UN Security Council, confirming that Iran had complied with its commitments under the Joint Comprehensive Plan of Action ("JCPOA"). 

In this bulletin, we set out the key changes to the sanctions regimes and consider potential implications for business. For further information, please contact Joanna Addison, Partner, Andrew Cannon, Partner, Jonathan Cross, Of Counsel or any of the individuals listed in the bulletin.