The Iran Joint Plan of Action: Fast paced regulatory environment requires heightened due diligence

April 2014
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The Iran Joint Plan of Action: Fast paced regulatory environment requires heightened due diligence

At a glance

The Joint Plan of Action ("JPOA"): serves as the basis of an agreement between the United States and its partners, with the Republic of Iran. It has been reported that the purpose of the JPOA is to halt progress on, and roll back key aspects of Iran’s nuclear program. In return, the U.S. and its partners will provide limited, targeted, and reversible sanctions relief for a six-month period, from January 20 to July 20, 2014, while the parties pursue a broader agreement.

Although the JPOA does not signify any noticeable regulatory changes from the current sanctions regime for most U.S. companies and their foreign subsidiaries and affiliates, it would still be prudent for companies to pay careful attention to this rapidly changing area of economic sanctions.