On August 7, 2015, the U.S. Treasury Department released new guidance on sanctions for Iran in the wake of the July 14, 2015 announcement of the Joint Comprehensive Plan of Action (JCPOA) regarding Iran’s nuclear program.  According to the Treasury Department, “the JCPOA will provide Iran with phased sanctions relief upon verification that Iran has implemented key nuclear commitments” and the U.S. Government will release detailed guidance on sanctions relief after receiving such verification from the International Atomic Energy Agency (IAEA). The information released, which includes revised guidance, an FAQ, and a new licensing policy on the safety of Iran’s civil aviation industry, relates to the continuation of temporary sanctions relief pursuant to the 2013 Joint Plan of Action that will take place until the implementation of the JCPOA.