US Pullout on Iran Deal: Reckless Brinksmanship

Oil prices push higher after US walks away from Iran nuclear deal

Oil prices push higher after US walks away from Iran nuclear deal

President Donald Trump on Tuesday announced the United States government is withdrawing from the Iran nuclear agreement, which marked one of the biggest foreign policy decisions he's made since entering the White House. "If I allowed this deal to stand, there would soon be a nuclear arms race in the Middle East". So let me lay out the likely consequences: a rift with allies, a tit-for-tat battle if we penalize global banks and businesses, near-certainty Russian Federation and China will ignore USA sanctions, an excuse for Tehran to resume nuclear fuel production (and secretly seek weapons) - or a costly war to try to stop them.

Shortly after President Trump announced his decision to leave the deal, Iranian Supreme Leader Khamenei said Iran is being unfairly targeted by the U.S.

The decision will have repercussions in every corner of the globe.

Iranian officials involved in nuclear negotiations say the focus will now be on how European parties to the deal react to Mr. Trump's announcement.

Trump said, on May 8, that Iran is close to making a nuclear bomb.

Even Trump's secretary of state and the United Nations agency that monitors nuclear compliance agree that Iran, so far, has lived up to its side of the deal. Proponents of the deal have said those time limits were meant to encourage more discussion with Iran in the future that could eventually address other concerns.

Defense Secretary Jim Mattis said Wednesday that the USA military has at the ready constantly updated plans to use force to stop Iran from developing nuclear weapons and the means to do so if diplomacy fails. Mark Dubowitz of the Foundation for Defense of Democracies hopes Trump will push Europe to "fix the nuclear deal on the terms he demanded" and add more sanctions on missile and terrorist activities. "We urge all sides to remain committed to its full implementation and to act in a spirit of responsibility". Few people understand the complex, 159-page deal - and the president is apparently not among them.

But now, in response to Trump's decision to reimpose sanctions on firms doing business with Iran, Iran's leaders could decide to exceed the tough nuclear restrictions established by the accord.

"I strongly condemn President Trump's decision to withdraw from the Iran nuclear deal", Foster said in a statement.

And the Number 10 spokesman added: "The Prime Minister raised the potential impact of United States sanctions on those firms which are now conducting business in Iran". Treasury Secretary Steven Mnuchin said that licenses held by Boeing and its European competitor Airbus to sell billions of dollars in commercial jetliners to Iran will be revoked.

A quick review: The deal blocks Iran from making nuclear weapons in exchange for lifting sanctions that cost Tehran $5 billion a month in lost oil sales alone. "Oil prices could rise at least $10 (a barrel), with Brent approaching near $90", he said.

Second, given the intense enmity between Israel and Iran, the Israeli government might well decide to preemptively attack Iran's nuclear facilities before Tehran reaches the breakout point.

Iranian President Hassan Rohani said he had ordered his diplomats to negotiate with China, Russia, Britain, France, and Germany in the coming weeks to determine whether Iran can keep benefiting from cooperation from those countries, which have all pledged to continue honoring the deal.

Still, responding directly to Trump's announcement, Rouhani instructed Iran's "atomic industry organization to be fully prepared for subsequent measures if needed so that in case of need we will start our industrial enrichment without limitations".

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