JCPOA (Joint Comprehensive Plan of Action)

The Joint Comprehensive Plan of Action (JCPOA), also sometimes referred to as the Iranian Nuclear Deal that is an agreement on the nuclear program of Iran reached in Vienna on 14 July 2015 between Iran and the P5+1 (the U.S., the U.K., France, China, and Russia, and the plus one is Germany). The JCPOA concedes to Iran nuclear program who will receive significant but limited sanctions relief, including an end to most EU and UN sanctions targeting Iran and the end of the US nuclear-related, secondary sanctions. The next round of economic sanctions on Iran, which will start going into effect on 4th November will mainly target the country’s oil and gas industries.