Following the European Union's suspension of sanctions against Iran, the US Treasury announced that it will also extend the sanctions relief provided for in the plan of action implemented by the parties.
Referring to the interim agreement reached between Iran and the 5+1 on November 24, 2013, the US Treasury announced the extension of the relief, following Monday's announcement that the nuclear negotiators have extended the deadline for reaching a final deal to July 1, 2015.
Yesterday, the 28 EU member states agreed to extend the suspension of certain sanctions of Iran to help bring the nuclear talks to the desired conclusion. These particular EU sanctions affect the transportation and insurance of crude oil as well as trade in gold, stones and petrochemical products.
Both Britain and the US have said there has been considerable progress in the talks and the negotiations will resume in December.