What are the ramifications of USA exiting Iran nuclear deal?

Nixing it won't fix it: Why scrapping the Iran deal is delusional and dangerous

One day after officially pulling the US out of the Iran nuclear deal, President Donald Trump issued an apparent threat to leaders in Iran saying "something will happen" if the country refuses to return to the negotiating table.

He declared he was making the world safer, but he also deepened his isolation on the world stage and revived doubts about American credibility with a rationale that contradicted the analyses of American and foreign intelligence sources.

But not China, Russia, the UK, France or Germany who all signed the deal and want it to survive.

"With the wave of the hand, Mr. Trump has sent a very bad signal to Iran, to North Korea, to our allies, as well as to Russian Federation and China, in terms of, can they count on something that Washington agrees to when administrations change", Brennan said.

The 2015 accord, which lifted major economic sanctions against Iran, was specifically aimed at preventing that result.

"Iran will find out", Trump said.

"If we do nothing, we know exactly what will happen".

But Mr Trump, a severe critic of the deal dating back to his 2016 presidential campaign, said in a televised address from the White House that it was "defective at its core".

"If US sanctions are re-instated the impact is likely to be significantly less this time as the US does not buy Iranian crude, so the sanctions will primarily limit US banks being involved in financing of crude exports", he said.

In anticipation of Mr Trump's decision, Iran had significantly increased its exports of crude to 2.6 million bpd to customers in Asia and Europe, a tactic to increase the level from which the U.S. would ask Tehran to cut down. The leaders of Britain, Germany and France immediately urged the USA not to take any actions that could prevent them and Iran from continuing to implement the agreement. Treasury said that at the end of those periods, the sanctions will be in "full effect".

If the deal collapses entirely, Iran would be free to resume prohibited enrichment activities. Companies and banks doing business with Iran will have to scramble to extricate themselves or run into trouble with the U.S. government.

For nations contemplating striking their own sensitive deals with Trump, such as North Korea, the withdrawal will increase suspicions that they can not expect lasting US fidelity to worldwide agreements it signs.

He said: "The consistent flouting of agreements that our country is a party to risks eroding America's credibility and puts us at odds with the world's major powers".

"The fact is, this was a disgusting, one-sided deal that should have never, ever been made", Trump said.

Oil pared sharp losses Tuesday afternoon after President Donald Trump announced plans to withdraw the United States from the Iran nuclear deal, in a move that could put hundreds of thousands of crude barrels at risk and ratchet up tensions among Western allies and in the Middle East. I would advise Iran not to start their nuclear program.

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