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Financial Services Law Insights and Observations

OFAC Releases Guidance on the Continuation of Certain Temporary Sanctions Relief Under the JPOA

Sanctions OFAC

Consumer Finance

On June 30, the P5 + 1, European Union, and Iran agreed to extend the Joint Plan of Action for seven days, furthering negotiations to reach a solution to reduce Iran’s nuclear program.  In conjunction with the announcement of the seven day extension, OFAC published Guidance on the Continuation of Certain Temporary Sanctions Relief Implementing the Joint Plan of Action, as Extended. The guidance continues the JPOA sanctions relief period, provided in November 2014 as implemented via Guidance, FAQs, and Statement of Licensing Policy, from June 30 through July 7, 2015.

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