www.TheSeaNation.gr

As is known, the Geneva Agreement amongst the P5+1 (the United States, United Kingdom, Germany, France, Russia, and China, facilitated by the European Union) and Iran, is an interim one that will remain in force for the next six months. It provides some limited, temporary, targeted and reversible/revocable relief to Iran in exchange for significant concessions by Iran regarding its nuclear enrichment program. The overwhelming majority of the sanctions regime will remain in place and continue to be vigorously enforced, and may be more accurately analysed as a "freezing" of sanctions rather than a reduction in their scope.

According to a Fact Sheet issued by the White House on 23 November 2013, "Sanctions on several sectors of Iran's economy, including shipping and shipbuilding, remain in effect". The full text of the Fact Sheet can be found by clicking here.

The EU says that it is in the process of considering changes to the sanctions targeting the sale and transportation of crude oil and has indicated that the relaxation measures will be implemented by January 2014. For the time being, however, the current EU sanctions remain fully in force.