Congressional Research Service Washington United States
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The comprehensive nuclear accord Joint Comprehensive Plan of Action, or JCPOA, finalized on July 14, 2015, provides Iran broad relief from U.S., U.N., and multilateral sanctions on Irans energy, financial, shipping, automotive, and other sectors. Sanctions were suspended or lifted upon the International Atomic Energy Agency IAEA certification on January 16, 2016, that Iran had complied with the stipulated nuclear dismantlement commitments under the agreement Implementation Day. On Implementation Day, Administration waivers of relevant sanctions laws took effect and relevant Executive Orders E.O.s were revoked by E.O. 13716.Remaining in place are those secondary sanctions sanctions on foreign firms that have been imposed because of Irans support for terrorism, its human rights abuses, its interference in specified countries in the region, and its missile and advanced conventional weapons programs. Most sanctions that apply to U.S. companies, including regulations barring transactions between U.S. and Iranian banks, remain in place. Under U.N. Security Council Resolution 2231, most U.N. sanctions terminated as of Implementation Day, but U.N. restrictions on Irans development of nuclear-capable ballistic missiles and its importation or exportation of arms remain in place for several years. Iran was able to develop its nuclear and missile programs and to assist pro-Iranian movements and governments in the region even when sanctions had maximum effect. During 2010-2013, sanctions significantly harmed Irans economy and contributed to Irans decision to accept the JCPOA.
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