Press Center

 Statement by Treasury Secretary Jacob J. Lew on Reaching Implementation Day under the Joint Comprehensive Plan of Action Regarding Iran’s Nuclear Program


1/16/2016

“Today we welcome the International Atomic Energy Agency (IAEA)’s report verifying that Iran has completed the nuclear-related steps specified in the Joint Comprehensive Plan of Action (JCPOA).  As the result of these steps, Iran’s pathways to a nuclear weapon have been cut off and the international community is more secure.  Reversing what had been a steadily expanding program, the JCPOA pushes the amount of time Iran would need to produce enough weapons grade uranium for one nuclear weapon from two or three months to at least one year, with Iran removing two-thirds of its centrifuges and reducing its stockpile of enriched uranium by 98 percent.  Its nuclear facilities will be under constant and rigorous monitoring, and international inspectors will be able to go anywhere in Iran where they suspect covert nuclear activities may be occurring.  In return, the United States has followed through on its Implementation Day commitment to lift nuclear-related sanctions, as specified in the JCPOA.
 
“Reaching this critical milestone demonstrates the powerful role that coordinated economic sanctions can play in bringing about positive change.  These sanctions – implemented by the United States, the European Union, and the United Nations, alongside many partners – led Iran to negotiate a deal that today ensures Iran’s nuclear program is and remains exclusively peaceful.
 
“As we have said all along, while the JCPOA addresses the nuclear issues, it does not resolve other areas where Iran’s behavior remains unacceptable. We will continue to target sanctionable activities outside of the JCPOA – including those related to Iran’s support for terrorism, regional destabilization, human rights abuses, and ballistic missile development.  It is also important to note that, other than certain limited exceptions provided for in the JCPOA, the U.S. embargo broadly remains in place, meaning that U.S. persons, including U.S. banks, will still be prohibited from virtually all dealings with Iranian entities.
 
“We will continue to work closely with Congress, the IAEA, our international partners, and Iran to ensure that JCPOA commitments are upheld and fully implemented.”
 
Background:  Today, the P5+1 (the United States, China, France, Germany, Russia, and the United Kingdom), the European Union, and Iran announced that we have reached Implementation Day under the JCPOA.  Implementation Day means the IAEA has verified that Iran has completed all of its required commitments under the JCPOA to dismantle its nuclear program and increase its breakout time to a year, and, in return, the United States is upholding its Implementation Day commitments to lift nuclear-related sanctions, as specified in the JCPOA.  Today, in coordination with the State Department’s confirmation that it has waived certain sanctions on Iran, Treasury’s Office of Foreign Assets Control has published a series of documents detailing the actions it has taken to lift nuclear-related sanctions, including the delisting of entities designated for their support to Iran’s nuclear program, and to fulfill U.S. commitments to license certain limited activities involving U.S. persons and foreign subsidiaries of U.S companies. 
 
For the Guidance and FAQs related to Implementation Day, click here and here.
 
 
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