The EU has announced that the ongoing talks between the P5+1 and Iran have again been extended and will now continue until 13 July. The announcement confirms that the current suspension of certain EU sanctions against Iran will continue until this date.

At the time of preparing this update, OFAC had not yet issued a corresponding statement in respect of the US sanctions, but we anticipate that it will follow suit and that its existing sanctions relief will also be extended for another three days.