Monday, July 26, 2021
HomeNewsGlobal Easing On Cannabis Could Jumpstart Markets

Global Easing On Cannabis Could Jumpstart Markets

Earlier this week, the U.N. voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also includes cocaine, Fentanyl, morphine, Methadone, opium and oxycodone.

The United Nations has voted to remove cannabis from its classification as a dangerous drug. This week the U.N. Commission on Narcotic Drugs voted to remove cannabis and cannabis resin from a category of the world’s most dangerous drugs. This decision could potentially jumpstart the global medical marijuana industry. Many cannabis companies have eyed global expansion, but the markets have proven to be challenging as laws have remained strict.

The Vienna-based U.N. agency said in a statement that it had voted 27-25, with one abstention, to follow the World Health Organization’s recommendation to remove cannabis and cannabis resin from Schedule IV of the 1961 Convention on Narcotic Drugs, where it was listed with heroin and several other opioids.

The drugs that are on Schedule IV are a subset of those on Schedule I of the convention, which already requires the highest levels of international control. The agency voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also includes cocaine, Fentanyl, morphine, Methadone, opium and oxycodone, the opiate painkiller sold as OxyContin.

RELATED: United Nations Reschedules Cannabis In Historic Vote Following WHO Suggestion

FOR A WEEKLY DOSE OF THE FRESH TOAST

Hand selected from our editors with all the latest news and entertainment with a side of cannabis.

MUST READ

How To Consume The Remainder Of Your Vaporized Marijuana

While most of the THC in marijuana disappears when vaped, there are some remaining cannabinoids that can be reused in different and sometimes even potent ways.

MORE BY THIS AUTHOR