Client Alert – Focus on Iran: U.S. Government, European Union, and Switzerland Implement Limited Sanctions Easing Under Joint Plan of Action

As reported in our Client Alert dated November 27, 2013, the United States and its partners in the P5+1 (i.e., China, France, Germany, Russian, and the United Kingdom) reached an initial understanding with Iran on November 24, 2013, outlined in a Joint Plan of Action (“JPOA”), targeted at gaining commitments from Iran on enrichment reductions, non-proliferation, and inspections of its nuclear program. In return, the P5+1 nations agreed to a gradual, step-by-step suspension of sanctions to be rolled out in various phases

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