Iran Sanctions, Kenneth Katzman, Specialist in Middle Eastern Affairs. January 12, 2016: “The comprehensive nuclear accord (Joint Comprehensive Plan of Action, or JCPOA), finalized on July 14, 2015, entails far broader sanctions relief. U.S., U.N., and multilateral sanctions on Iran’s energy, financial, shipping, automotive, and other sectors are to be suspended or lifted once Iran complies with key nuclear commitments under the agreement (“Implementation Day”) –a milestone that might be reached in mid-late January 2016. The relief will allow Iran to freely export crude oil and to access a net amount of nearly $60 billion in foreign exchange reserves. On October 18 (“Adoption Day” of the JCPOA), the Administration issued provisional waivers of relevant sanctions laws, to take effect on Implementation Day. The JCPOA requires the President to, eight years from the JCPOA’s taking effect, request that Congress terminate the stipulated sanctions that are imposed by statute. Most sanctions that apply to U.S. companies remain in place, as will those secondary sanctions (sanctions on foreign firms) that have been imposed because of Iran’s support for terrorism, for human rights abuses, and to curb Iran’s missile and advanced conventional weapons programs. Under the JCPOA and U.N. Security Council Resolution 2231 of July 20, 2015, U.N. sanctions will terminate as of Implementation Day. Under Resolution 2231, U.N. sanctions on Iran’s development of nuclear-capable ballistic missiles and its importation or exportation of arms will remain in place for limited periods of time. Experts disagree on whether Iran will use sanctions relief primarily to resurrect its economy or to empower additional expansion of Iran’s influence.”