Donald Trump pulls US out of landmark Iran nuclear agreement
President Donald Trump last night revealed the US will pull out of a nuclear agreement with Iran, warning that his government will soon begin imposing heavy sanctions on the country.
At a White House conference Trump said he had made the decision as he believed the US “cannot prevent an Iranian nuclear bomb under the decaying, rotten structure of the current agreement”. Trump employed aggressive rhetoric, launching a stern warning against Iran pursuing its nuclear ambitions in the future.
“Iran’s bloody ambitions have grown only more brazen,” he said.
“Powerful sanctions will go into full effect. If the regime continues its nuclear aspirations, it will have bigger problems than it has ever had before.”
Shortly after the announcement, US Treasury secretary Mnuchin said that licenses for Boeing to sell aircraft and components to Iran will be revoked as a result of the reimposed sanctions.
“Under the original deal, there were waivers for commercial aircraft, parts and services and the existing licences will be revoked,” Mnuchin said.
US national security adviser John Bolton told European firms they would have just months to get out of Iran.
The White House said re-imposed sanctions would target “critical sectors of Iran’s economy, such as energy, petrochemical, and finance”.
“Those doing business in Iran will be provided a period of time to allow them to wind down operations in or business involving Iran.”
Iran’s President Hassan Rouhani responded by saying Iran would remain committed to a multinational nuclear deal despite Trump’s decision.
“If we achieve the deal’s goals in cooperation with other members of the deal, it will remain in place… By exiting the deal, America has officially undermined its commitment to an international treaty,” Rouhani said.
A joint statement from Prime Minister Theresa May, Macron and German Chancellor Angela Merkel expressed: “regret and concern” at the US quitting the agreement.
“We urge all sides to remain committed to its full implementation and to act in a spirit of responsibility,” it read.
“We encourage Iran to show restraint in response to the decision by the US; Iran must continue to meet its own obligations under the deal, cooperating fully and in a timely manner with IAEA inspection requirements.
“There must be no doubt: Iran’s nuclear program must always remain peaceful and civilian.”
French President Emmanuel Macron, rued Trump’s decision, writing on Twitter: “We will work collectively on a broader framework, covering nuclear activity, the post-2025 period, ballistic activity, and stability in the Middle-East, notably Syria, Yemen, and Iraq.”
Just after Trump’s announcement, the price of oil declined. West Texas Intermediate was down 1.89 per cent to $69.39 a barrel, while Brent crude prices fell 1.06 per cent to $75.36.
Anticipation around Trump’s decision had sent oil prices into a frenzy earlier on Tuesday, crashing down 4.4 per cent before climbing back up to a drop of 2.5 per cent.
President of the European Council Donald Tusk stated that Trump’s policies would require a “united European approach.
“EU leaders will tackle both issues at the summit in Sofia next week,” he continued.
European Union diplomat Federica Mogherini immediately called on the international community to honour the Iran agreement, and not follow Trump out of the deal.
“Together with the rest of the international community, we will preserve this nuclear deal,” she said.
But Israeli Prime Minister Benjamin Netanyahu was full of praise for the President’s actions, thanking him for showing “courageous leadership.”
“Israel fully supports President Trump’s bold decision today to reject the disastrous nuclear deal with the terrorist regime in Tehran.”
Netanyahu stated that Israel opposed the deal as the removal of sanctions “paved the way for Iran’s path to an entire arsenal of nuclear bombs.”
Under the agreement, which was signed under President Obama in 2015, economic sanctions against the country were waived in return for Iran limiting its stockpile of enriched uranium, which is used in the production of nuclear weapons.