Repeal Iran sanctions?

It is possible that the Iran sanctions of the United States and the European Union will soon be lifted. On 2 April 2015 an agreement was reached in the nuclear dispute between Iran, the UN veto powers and Germany.

Iran undertakes under the agreement to subject uranium enrichment to comprehensive controls. In return, the sanctions against Iran are to be lifted. However, if Iran violates the conditions, the sanctions can be reintroduced at any time.

Iran sanctions apply until lifted

It remains to be seen how quickly the sanctions against Iran will be lifted. As long as these have not been officially repealed in the Official Journal of the EU, companies still have to comply with the applicable sanctions. Moreover, Iran had already announced that all agreements would be subject to the approval of the Iranian parliament.

Also, a final agreement with Iran has yet to be negotiated, which should be in place by the end of June. Before that, sanctions against Iran would not be lifted anyway.

Finally, relaxation of sanctions

Most recently, Iranian sanctions have already been relaxed. For example, the ban on making ships available for the transport or storage of oil and petrochemical products has been suspended. In addition, thresholds for authorisations for transfers of funds from and to Iranian persons have already been raised.

If the sanctions were lifted, this would in all likelihood significantly boost trade between Germany and Iran, as Germany has a good reputation in Iran and numerous trade relations existed in the past.

Lawyer Dr. Tristan Wegner

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