President Donald Trump announced Tuesday that the United States is withdrawing from the Iran nuclear deal and reinstating sanctions lifted under the 2015 accord. The president, however, kept the door open to a new agreement that would address Tehran's ballistic missile program and support for proxies in the region while further restricting its nuclear program over the long term. The announcement drew mixed reactions from US allies across the world. Israeli Prime Minister Benjamin Netanyahu welcomed Trump's “bold decision … to reject the disastrous nuclear deal with the terrorist regime in Tehran,” as did Saudi Arabia, the United Arab Emirates and Bahrain.
The European parties to the deal — France,Germany and the United Kingdom — in contrast issued a statement expressing their “regret and concern.” They vowed to stay in the deal by “ensuring continuing economic benefits to the Iranian people,” setting up a possible showdown with Washington as it reinstates so-called secondary sanctions on nations that do business with Iran. Turkey’s President Recep Tayyip Erdogan also condemned the US decision.
Hours after Trump’s announcement, oil prices rose by more than 3%, hitting $77.20 per barrel, a three-and-a-half-year high. However, Saudi Arabia indicated today that it may raise its oil output to “limit the impact of any supply shortages” resulting from the reimposed sanctions. Read More
Danielle Pletka | AEIdeas
The Joint Comprehensive Plan of Action was a lousy piece of work. But what are we doing next to force Iran to limit its nuclear program, end its ballistic missile program, and stop supporting terrorism?