President Trump has confirmed what has been widely anticipated in recent days: that he is indeed pulling out of the Iran nuclear deal. And any doubt about the manner or extent of the US withdrawal - a “soft” exit with a staggered reintroduction of US secondary sanctions or a “harder” exit with a wholesale reintroduction of sanctions has been answered emphatically: decrying what he described as the “decaying and rotten structure” of the deal he has confirmed that the US will withdraw from the deal and will re-instate the “highest level of economic sanctions” against Iran. This indicates that the full spectrum of former US secondary sanctions are being reintroduced - the nuclear option. Businesses will be studying the text of the Executive Order signed by President Trump to ascertain the extent of their exposure.
WASHINGTON — President Trump declared on Tuesday that he was withdrawing from the Iran nuclear deal, unraveling the signature foreign policy achievement of his predecessor Barack Obama, isolating the United States from its Western allies and sowing uncertainty before a risky nuclear negotiation with North Korea. The decision, while long anticipated and widely telegraphed, leaves the 2015 agreement reached by seven countries after more than two years of grueling negotiations in tatters. The United States will now reimpose the stringent sanctions it imposed on Iran before the deal and is considering new penalties.