What is Implementation Day? When does the lifting of sanctions under the JCPOA go into effect?
Implementation Day, which is January 16, 2016, marks the day on which the International Atomic Energy Agency (IAEA) verified that Iran implemented its nuclear-related commitments described in sections 15.1-15.11 of Annex V of the JCPOA. Simultaneous with the IAEA verification, the European Union (EU) and United States took the actions necessary to lift sanctions as set out in sections 16 and 17, respectively, of Annex V of the JCPOA. Following confirmation by the Secretary of State that the IAEA verified that Iran met its commitments, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated its website to notify the public that the U.S. sanctions commitments described in section 17 of Annex V of the JCPOA have been implemented.