Donald Trump pulls US out of landmark Iran nuclear agreement
President Donald Trump today confirmed that the US will pull out of its landmark agreement with Iran, as he warned the US would soon begin imposing heavy sanctions on the country.
At a White House press conference earlier today, the President 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 around the announcement, as he launched a stern warning against Iran pursuing any nuclear ambitions.
"Irans bloody ambitions have grown only more brazen," he stated.
"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 National Security Adviser John Bolton told European firms that they would have just months to get out of Iran.
French President Emmanuel Macron, rued Trump's decision, writing on Twitter: "France, Germany, and the UK regret the US decision to leave the JCPOA. The nuclear non-proliferation regime is at stake.
"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 took a sharp decline. West Texas Intermediate was down 1.89 per cent to $69.39 a barrel, while international benchmark Brent slipped 1.06 per cent, trading at $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.
But Israeli Prime Minister Benjamin Netanyahu was full of praise for the President's actions, thanking him for showing "courageous leadership."
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