On November 24, 2013 the P5+1 countries and Iran negotiated a Joint Plan of Action (“JPoA”) under which Iran agreed to certain curtailments in its nuclear program and the P5+1 agreed to ease some of the sanctions against Iran. The JPoA was extended several times and was set to expire on June 30, 2015. However, on that date the P5+1 and Iran mutually agreed to extend the JPoA for seven days, through July 7, 12015, as negotiations continue on Iran’s nuclear program. All sanctions relief afforded by the JPoA remains in place. To see a Client Alert on this extension of the JPoA, click here.