On January 20, 2014, the US Treasury Department's Office of Foreign Assets Control (OFAC) issued Guidance Relating to the Provision of Certain Temporary Sanctions Relief (Guidance) to explain the limited and temporary sanctions relief being granted pursuant to the US Government’s commitment under the Joint Plan of Action (JPOA) reached on November 24, 2013 between the P5+1 (United States, United Kingdom, Germany, France, Russia and China) and Iran in the context of the nuclear negotiations with Iran.
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