Top diplomats have decided to continue negotiating a nuclear deal with Iran beyond the self-imposed June 30 deadline. The Treasury Department announced that it is extending the limited sanctions relief provided under the Joint Plan of Action (JPOA) through July 7 while talks continue. As King & Spalding has reported, the JPOA was initially established in November 2013 for the purposes of granting limited sanctions relief to Iran while it negotiated its nuclear program with the P5+1 countries (China, France, Russia, the United Kingdom, the United States, and Germany). Importantly, this limited sanctions relief generally does not apply to U.S. persons or U.S.-owned or controlled entities. If a longer-term deal is reached with Iran in the future, sanctions relief may then apply to U.S. persons. On April 2, 2015, parties to the JPOA announced parameters for a nuclear deal with Iran, whereby Iran would take a series of phased steps to dismantle its nuclear program in exchange for sanctions relief. This could lead to opportunities for increased global business with Iran if and when a deal is implemented.