Trump Snubs Europe, Pulls Out Of Iran Nuclear Deal

'Dotun Akintomide
Writer

Ad

Obasanjo urges Africa to shun IMF, World Bank, Says Nigeria’s currency no longer worth the paper it’s printed on

• Advocates regional trade integration as a way forward By Obinna Uballa Former two-term Nigerian president and erstwhile military Head of State, Chief Olusegun Obasanjo, has called on African nations to reduce dependence on global financial institutions such as the International Monetary Fund (IMF) and World Bank, insisting that they were not created to serve…

Insights as Tinubu Sacks VP’s Aide on Digital and Creative Economy

By Abiola Olawale President Bola Tinubu has announced the sacking of Fegho John Umunubo, the Special Assistant on Digital and Creative Economy in the Presidency, attached to the Office of the Vice President. The announcement came via an official statement from Abiodun Oladunjoye, Director of Information and Public Relations at the State House. According to…

Oil Prices Defy OPEC+ Cut Rollback, Rally on Asian Demand Signals

Oil prices rose on Monday despite OPEC+ confirming at its Sunday meeting that it will wind down more than 1 million barrels per day of extra voluntary cuts over the next two months. At 9:34 a.m. ET on Monday, West Texas Intermediate (WTI) was trading up 1.65% at $62.89 per barrel, while Brent was up 1.74%…

Ad

As expected, US  President Donald Trump on Tuesday pulled the United States out of Iran nuclear deal, an international agreement aimed at stopping Iran from obtaining a nuclear bomb, and said he would reimpose economic sanctions on Tehran immediately.

Trump’s move is a snub to European allies such as France, Britain and Germany who are also part of the Iran deal and tried hard to convince the U.S. president to preserve it. The Europeans must now scramble to decide their own course of action with Tehran.

His not surprising decision is likely to raise the risk of conflict in the Middle East, upset America’s European allies and disrupt global oil supplies.

“This was a horrible one-sided deal that should have never, ever been made,” Trump said at the White House. “It didn’t bring calm. It didn’t bring peace. And it never will.”

The 2015 deal, worked out by the United States, five other international powers and Iran, eased sanctions on Iran in exchange for Tehran limiting its nuclear program.

Trump said  the agreement, the signature foreign policy achievement of Trump’s predecessor Barack Obama, does not address Iran’s ballistic missile programme, its nuclear activities beyond 2025 nor its role in conflicts in Yemen and Syria.

Trump said he was willing to negotiate a new deal with Iran, but Tehran has already ruled that out and threatened unspecified retaliation if Washington pulled out.

Iranian state television said on Tuesday that Trump’s decision to withdraw was “illegal, illegitimate and undermines international agreements.”

Renewing sanctions would make it much harder for Iran to sell its oil abroad or use the international banking system.

The Iran deal may remain partially intact, even without the United States. Iranian President Hassan Rouhani suggested on Monday that Iran could remain in the accord with the other signatories that stay committed to it.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp