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End of Iran sanctions

It is possible that the sanctions of the United States and the European Union imposed against Iran are lifted in the near future. On 2 April 2015 an agreement was reached in the nuclear dispute between Iran, the UN veto power states and Germany.

According to this agreement Iran binds itself to put the enrichment of uranium under vast control. In return the Iran sanctions should be lifted. Should Iran not observe the conditions, the sanctions can be revived anytime.

Iran sanctions are valid as long as they are not lifted

We now have to wait and see how quickly the imposed Iran sanctions will be lifted. As long as this is not done by official notification in the official Journal of the EU, enterprises are obliged to apply the still valid sanctions. In addition, Iran already advised that all the agreements are subject to the approval of the Iranian Parliament.

And first a final agreement has to be concluded with the Iran, which is scheduled for the end of June. Previously to this the Iran sanctions will not be lifted anyway.

Relaxation of sanctions already in the past.

The conditions for the Iran sanctions have already been eased in the past. For instance the ban to provide vessels for transport and storage of oil and petrochemical products was lifted and the limits for the approval of money transfers from and to Iranians were raised.

Should the sanctions be lifted, this probably would stimulate the trade between Germany and Iran considerably, as Germany has a good reputation in Iran and numerous trade relations existed before.

Rechtsanwalt Dr. Tristan Wegner

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