Donald Trump Withdraws From Iran Nuclear Deal, Imposes Sanctions: Impact

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Boeing separately struck another 30-airplane deal with Iran's Aseman Airlines for $3 billion at list prices.

Additionally, OFAC is revoking its favorable licensing policy applicable to USA persons for civil aircraft and parts, and US imports of Iranian carpets and foodstuff once again will be restricted.

"With stocks falling quickly during the course of the next 18 months, we would expect continued upside pressure on crude oil prices and see Brent averaging $US75 a barrel in 2019 compared to $US70 a barrel this year", BoA analysts said. "The Europeans should not have to pay for the withdrawal from an agreement by the United States, to which they had themselves contributed". In other words, on Tuesday after Trump announced the decision to leave the Iran nuclear deal, the administration gave oil players a 180-day period to take care of current business.

Iran says as far as it's concerned the U.S. pullout has not killed the nuclear deal.

French President Emmanuel Macron, who personally lobbied Trump to remain in the deal during a state visit to Washington last month, said: "France, Germany, and the United Kingdom regret the U.S. decision to leave the JCPOA".

At the end of May, le Maire will meet British and German finance ministers to also look at "what we can do in response to these U.S. decisions on extraterritoriality", the minister said, adding that "It is urgent to go from words to deeds".

The former First Sea Lord added a nuclear armed Iran is "far more risky than North Korea".

The move to withdraw is a snub to the three nations, who had tried hard to convince Mr Trump to preserve the deal.

Moreover, an increase in supply from Saudi Arabia, for instance, to offset the declines from Iran will also translate into a shrinking volume of spare capacity.

European leaders had tried, but failed, in recent weeks to convince Trump to stick with the Iran deal, with the leaders of both Germany and France visiting Washington last week.

"Until you have actually defeated Iran, and that is a major thing, a huge war, you won't have removed that threat". US law gives the Treasury secretary the power to administer sanctions imposed by the president.

Mr Trump says the agreement, the signature foreign policy achievement of former president Barack Obama, does not address Iran's ballistic missile program, its nuclear activities beyond 2025 nor its role in conflicts in Yemen and Syria. Even after the implementation of the JCPOA, U.S. persons remained prohibited from virtually all dealings with Iran; accordingly, the impact on U.S. persons from the withdrawal will largely be limited to non-U.S. entities owned or controlled by U.S. persons. I'm not the national security decision-maker.

He urged all other parties to the deal to abide by the commitments they made and to fully support the agreement.

JCPOA provided for Iran curbing its nuclear programme in return for the lifting of financial sanctions.