Sanctions Relief Timeline

The JCPOA specifies which sanctions will be lifted according to five dates:

 

July 14, 2015 (Finalization Day)

  • No specific relief identified

October 19, 2015 (Adoption Day)

  • European Union will terminate and/or suspend sanctions on:
  • Financial transfers to and from Iran
  • Banking activities
  • Insurance
  • Financial support for trade with Iran
  • Grants, loans, and financial assistance
  • Iranian government bonds
  • Oil and gas imports from Iran
  • Importation of Iranian petrochemical products
  • Export to Iran of equipment for oil, gas, and petrochemical uses
  • Investment in Iran’s oil, gas, and petrochemical sectors
  • Iranian shipping and shipbuilding
  • Iran’s transportation sector
  • Iranian cargo flights to European airports
  • Specific Iranian sanctions-evaders
  • Gold, precious metals, diamonds, banknotes, and coinage
  • The U.S. “will issue waivers, to take effect upon Implementation Day, ceasing the application of the statutory nuclear-related sanctions,” thereby permitting:
  • Transactions with individuals and entities identified in Attachment 3 of Annex II, specifically including:
  • The Central Bank of Iran “and other specified Iranian financial institutions”
  • The National Iranian Oil Company
  • Naftiran Intertrade Company
  • National Iranian Tanker Company
  • Exchange of Iranian Rials
  • Provision of U.S. currency to the Iranian Government
  • Unfreezing Iranian revenues outside of Iran
  • Purchase and facilitation of Iranian sovereign debt
  • Allowing financial institutions in Attachment 3 of Annex II to rejoin the SWIFT system
  • Insurance, underwriting, and reinsurance
  • Sale of Iranian crude oil
  • Investment and participation in Iran’s oil, gas, and petrochemical sectors
  • Purchase, sale, and transportation of Iranian oil, gas, and petrochemical products
  • Export, sale, and provision of refined petroleum and petrochemical products to Iran
  • Transactions with Iran’s energy sector
  • Transactions with Iran’s shipping and shipbuilding sectors, as well as port operators
  • Iranian trade in gold and other precious metals
  • Selling, supplying, or transferring goods and services used in connection with Iran’s automotive sector
  • Trading with Iran in “graphite, raw or semi-finished metals such as aluminum, steel, coal, and software for integrating industrial processes”
  • “Remove individuals and entities set forth in Attachment 3 to Annex II from the Specially Designated Nationals and Blocked Persons List (SDN List), the Foreign Sanctions Evaders List (FSE List), and/or the Non-SDN Iran Sanctions List”

Fall 2015 (Implementation Day)

  • The EU will remove people and organizations in Attachment 1 to Annex II and suspend sanctions on such individuals
  • The US will implement the waivers of sanctions and removals from various lists promulgated on October 19, 2015

October 19, 2023 (Transition Day)

  • The EU will remove individuals and entities as listed in Attachments 1 and 2 of Annex II and terminate all provisions that were suspended on Implementation Day
  • The US will remove individuals and entities listed in Attachment 4 of Annex II