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Financial Services Law Insights and Observations

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

Sanctions OFAC

Federal Issues

On July 7, the P5 + 1, EU, and Iran agreed to extend the JPOA for three days to further negotiations in reaching a comprehensive solution surrounding Iran’s nuclear program. As a result, OFAC issued updated guidance informing that all JPOA sanctions relief detailed in the Guidance, FAQs, and Statement of License Policy issued in November 2014 has been extended through July 10, 2015. This updated guidance replaces guidance previously issued by OFAC on June 30, 2015.

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