On 24 November 2013, the Joint Plan of Action, also known as the Geneva interim agreement, was a pact signed between Iran and the P5+1 countries in Geneva, Switzerland. It consists of a short-term freeze of portions of Iran's nuclear program in exchange for decreased economic sanctions on Iran, as the countries work towards a long-term agreement. It represented the first formal agreement between the United States and Iran in 34 years. Implementation of the agreement began 20 January 2014.