Trump Says He'll Exit Iran Nuclear Deal and Reinstate Sanctions

(Bloomberg) Margaret Talev and Toluse Olorunnipa - President Donald Trump announced Tuesday at the White House that the U.S. will withdraw from the 2015 Iran nuclear deal and reinstate financial sanctions on the Islamic Republic. "The fact is this was a horrible, one-sided deal that should have never ever been made," Trump said. "We cannot prevent an Iranian nuclear bomb under the decaying and rotten structure of the current agreement. The Iran deal is defective at its core." "If I allowed this deal to stand, there would soon be a nuclear arms race in the Middle East," Trump said. "Everyone would want their weapons ready by the time Iran had theirs." He said international inspectors are "not able to prevent, detect or punish cheating" by Iran and "don't have the unqualified right to inspect many important locations" including military bases. Trump has complained that the Iran deal doesn't address threats from the country's ballistic missile program or its involvement in fomenting regional conflicts, and that provisions of the deal that expire in the next decade would allow Iran to resume nuclear work. National Security Adviser John Bolton said after the announcement that the administration will try to pursue a broader deal with Iran that would satisfy the president's concerns. The sanctions halt $40 billion in aircraft sales by Boeing Co. and Airbus SE to Iran. Treasury Secretary Steven Mnuchin said export licenses permitting the sales would be revoked. The Treasury Department said that sanctions that had been waived under the deal would take full effect after Nov. 4 after "wind-down periods."

2018-05-09 00:00:00

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