On July 14, 2015, the United States, United Kingdom, France, Russia, China and Germany reached a historic nuclear non-proliferation agreement with Iran called the Joint Comprehensive Plan of Action JCPOA). As a result, comprehensive international sanctions restricting dealings with Iran and Iranian entities were substantially eased. The lifting of sanctions was primarily “secondary” and applicable to non-U.S. parties. The areas of focus under the JCPOA sanctions-relief commitments are the following: finance/banking; insurance/reinsurance services; the energy and petroleum sectors, including sanctions relating to the sale and purchase of Iranian crude and related financial services and investment in Iran’s oil, gas and petrochemical […]