Joint Comprehensive Plan of Action agreed in respect of Iran

On 14 July 2015, representatives of the P5+1 countries (the US, UK, France, China and Russia plus Germany) (reached an agreement with Iran on a “Joint Comprehensive Plan of Action” (JCPOA) regarding Iran’s nuclear programme. The JCPOA contains provisions for the lifting of various sanctions against Iran upon IAEA-verified implementation of agreed nuclear-related measures by Iran.

Subsequently on 31 July 2015, the European Council announced that it has adopted the first legal acts to implement the Joint Comprehensive Plan of Action (JCPOA) (UNSCR 2231 (2015)). The EU has adopted two Regulations that amend Regulation (EU) No 267/2012 which concerns restrictive measures against Iran.

In particular, an exemption has been created which enables competent authorities to authorise, in limited situations, the supply, sale, or transfer of items, materials, equipment, goods and technology, and the provision of any related technical assistance, training, financial assistance, investment, brokering or other services.