King & Spalding (JD Supra Iran)
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Opening Iranian Skies: OFAC Issues General License I to Jumpstart the Commercial Aviation Industry, and Iran Tests its Ballistic Missiles
The sanctions stranglehold on Iran is loosening as the Obama Administration continues to chip away at restrictions on the commercial passenger aircraft industry. Pursuant to the phased enactment of the Joint Comprehensive Plan of Action (JCPOA), last month the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued General License I (GL I), which authorizes U.S. persons to...
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Iran Nuclear Deal Survives Congressional Review Period, But Opponents Are Not Conceding Defeat
The Joint Comprehensive Plan of Action (JCPOA) with Iran survived its first major test last month when the United States Congress failed to pass a resolution of disapproval that would have prevented U.S. implementation of the agreement. Under the terms of the Iran Nuclear Agreement Review Act of 2015 (H.R. 1191), Congress had 60 days to review the final text of any agreement with Iran....
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Progress on Iran Nuclear Deal Provokes Congressional Response, Contemplates New Path for U.S. Sanctions
On April 2, 2015, top global diplomats announced parameters for the Joint Comprehensive Plan of Action (“JCPOA”) with Iran. This came as a long-awaited step in negotiations between Iran, the EU, and the P5+1 countries—China, France, Russia, the United Kingdom, the United States, and Germany—in an effort to scale back Iran’s nuclear program. The parameters outline central features of the...
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Iran's Upstream Oil and Gas Sector: An Update on Sanctions, Nuclear Talks and the New Petroleum Contract
Although the Islamic Republic of Iran has the world's fourth largest proven oil reserves and second largest natural gas reserves, UN, U.S. and EU sanctions relating to its nuclear program have significantly affected Iran's energy sector. Negotiations between the P5+1 countries (China, France, Russia, the United Kingdom, the United States and Germany) and Iran to ease those sanctions have been...