Trump announces US withdrawal from Iran nuclear deal

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"An ambitious U.S. task force targeting Hezbollah's billion-dollar criminal enterprise ran headlong into the White House's desire for a nuclear deal with Iran". "Any nation that helps Iran in its quest for nuclear weapons could also be strongly sanctioned by the United States".

US President Donald Trump today pulled out of the landmark nuclear deal with Iran, an Obama-era accord which he has repeatedly criticised. These sanctions will be far less effective than those imposed in 2012, with their success or failure largely outside of U.S. control.

Mnuchin told reporters that the Trump administration has talked to "various parties" who would be willing to provide enough oil to offset Iran.

Bond investors appeared to interpret the consumer prices data as a sign that the Fed is not likely to speed up the pace of its planned rate hikes. The Iran deal is defective at its core.

What do you call it when one country appoints itself to unilaterally violate international consensus and law in order to recklessly pursue illegal interests? The US Treasury Department, which administers the sanctions, has clarified that there will be a 180-day implementation period prior to the imposition of sanctions, but also advising companies to begin curtailment of their purchases now.

Built 90 km from the China-sponsored Gwadar port in Pakistan, Chabahar opens a transit route to Iran and Afghanistan that will also give India access to markets in Central Asia.

Claiming that Iran cheated on the agreement and still pursued nuclear weapons, Netanyahu said, "the deal didn't push war further away; it actually brought it closer". Regardless of whether Iran reacts by ramping up its nuclear program, Riyadh will be sure to increase pressure on the U.S. and its partners in the region.

He had described the agreement, which was negotiated by then US secretary of state John Kerry, as a bad deal.

The P5 + 1 was made up of the five permanent members of the UN Security Council which are China, France, Russia, United Kingdom, United States-plus Germany. Its distrust of Washington is already very deep. Indeed, we remain sceptical about how effective such moves can be, given the global reach of the US financial system and the footprint most large conglomerates have in the US. Prime Minister Benjamin Netanyahu of Israel had been a fervent advocate for scrapping the Iran deal, personally lobbying President Trump to tear it up, and has not been coy about his desire for more aggressive military action. Spoiler alert: there's no way to answer that question definitively.

Like most of his major foreign policy pronouncements, President Trump couched his decision to withdraw from the Iranian nuclear agreement in terms of how badly his predecessor had negotiated the deal and how he was keeping his campaign promise to dump it.

The energy sector in equity markets rallied, helping lift European stocks, a gauge of world equity performance and the broad U.S. market.

Iranian officials have complained time and again over the past two years that they have not seen any tangible benefits from the JCPOA.

A worker checks the valve of an oil pipe at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015.

It adds breaching any sanctions is illegal, and that UK businesses "need to carefully determine what risks they might want to take on the less clear-cut issues of political or reputational risk, and ensure that they undertake appropriate and adequate levels of due diligence".

The other key actor to watch is Saudi Arabia. And in doing so, he presented himself as the ultimate anti-Obama.

According to British Petroleum (BP), Iran currently holds 9.3 percent of the world's proven oil reserves and a huge 18.2 percent of the world's proven gas reserves. It even neglected Iranian aggression towards People.

Many expressed concern about the lack of a visible plan.

The U.S. says the sanctions will also sharply curtail sales of oil by Iran, the world's fifth-largest oil producer.

Judging by the debate raging in the official media in Tehran and comments made by prominent figures in the parliament and President Hassan Rouhani's Cabinet, Iran is studying three responses.

Technically, the United States and Iran have never been at war.

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