{"id":8540,"date":"2018-05-08T14:33:05","date_gmt":"2018-05-08T18:33:05","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=b38e56bea007840a5bca0bc63165927a"},"modified":"2018-05-08T15:02:12","modified_gmt":"2018-05-08T19:02:12","slug":"trump-withdraws-u-s-from-iran-nuclear-deal-reimposes-sanctions","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/05\/08\/trump-withdraws-u-s-from-iran-nuclear-deal-reimposes-sanctions\/","title":{"rendered":"\u2018Defective at its core\u2019: Trump withdraws U.S. from Iran nuclear deal, reimposes sanctions"},"content":{"rendered":"<p>U.S. President Donald Trump said the U.S. will withdraw from the landmark 2015 accord to curb Iran\u2019s nuclear program and reinstate financial sanctions on the Islamic Republic, opening an uncertain new chapter for the Middle East.<\/p>\n<p>His decision, widely anticipated by allies and analysts before his announcement Tuesday at the White House, was intended to force Iran to renegotiate an agreement the country\u2019s leaders have said they will not revisit. Trump\u2019s political opponents warned he could lead the U.S. into another Mideast war.<\/p>\n<p>\u201cThe fact is this was a horrible one-sided deal that should have never ever been made,\u201d Trump said. \u201cWe cannot prevent an Iranian nuclear bomb under the decaying and rotten structure of the current agreement. The Iran deal is defective at its core.\u201d<\/p>\n<p>West Texas Intermediate crude briefly pared losses as Trump announced his decision. The price for June deliveries of the commodity fell US$1.32 to US$69.41 a barrel at 2:28 p.m. in New York.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/investing\/investing-pro\/oil-prices-are-on-a-tear-right-now-but-there-are-speed-bumps-ahead\">Oil prices are on a tear right now, but there are speed bumps ahead<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/commodities\/energy\/why-gas-prices-are-going-through-the-roof\">Why gas prices are going through the roof<\/a><\/li>\n<\/ul>\n<p>French President Emmanuel Macron, who personally lobbied Trump to remain in the deal during a state visit to Washington last month, said on Twitter that \u201cFrance, Germany, and the UK regret the U.S. decision to leave the JCPOA,\u201d using an acronym for the agreement.<\/p>\n<p>\u201cThe nuclear non-proliferation regime is at stake,\u201d he said.<\/p>\n<p>Trump has long criticized the Iran deal, negotiated under his predecessor Barack Obama, as the \u201cworst\u201d ever. He has complained that it doesn\u2019t address threats from the country\u2019s 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.<\/p>\n<p>\u201cIf I allowed this deal to stand, there would soon be a nuclear arms race in the Middle East,\u201d Trump said. \u201cEveryone would want their weapons ready by the time Iran had theirs.\u201d<\/p>\n<p>He said that because of limits on international inspectors, they are \u201cnot able to prevent, detect or punish cheating\u201d by Iran and \u201cdon\u2019t have the unqualified right to inspect many important locations\u201d including military bases.<\/p>\n<div id=\"attachment_1587773\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg\"><img decoding=\"async\" loading=\"lazy\" data-attachment-id=\"1587773\" data-permalink=\"http:\/\/business.financialpost.com\/commodities\/energy\/trump-has-decided-to-exit-iran-nuclear-deal-reimpose-sanctions-u-s-official-says\/attachment\/0508trump2\/\" data-orig-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;AFP or licensors&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"0508trump2\" data-image-description=\"&lt;p&gt;U.S .President Donald Trump speaks to the press after signing a document reinstating sanctions against Iran after announcing the US withdrawal from the Iran Nuclear deal, in the Diplomatic Reception Room at the White House in Washington, D.C., on May 8, 2018.&lt;\/p&gt;\n\" data-medium-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=300\" data-large-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=640\" class=\"size-large wp-image-1587773\" src=\"http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=640&#038;h=480\" alt=\"\" width=\"640\" height=\"480\" srcset=\"http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=640&amp;h=480 640w, http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=150&amp;h=113 150w, http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=300&amp;h=225 300w, http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg?w=768&amp;h=576 768w, http:\/\/wpmedia.business.financialpost.com\/2018\/05\/0508trump2.jpg 1000w\" sizes=\"(max-width: 640px) 100vw, 640px\"><\/a><\/p>\n<p class=\"wp-caption-text\">U.S .President Donald Trump speaks to the press after signing a document reinstating sanctions against Iran after announcing the US withdrawal from the Iran Nuclear deal, in the Diplomatic Reception Room at the White House in Washington, D.C., on May 8, 2018.<\/p>\n<\/div>\n<p>Trump said in a tweet on Monday that he would announce his decision ahead of a May 12 deadline set by U.S. law to continue waiving U.S. sanctions lifted by the accord. The U.S. will be instituting the \u201chighest level\u201d of sanctions against Iran, Trump said.<\/p>\n<p>The Treasury Department said in a statement that sanctions would be reinstated after \u201cwind-down periods\u201d of 90 or 180 days. Nuclear-related sanctions that had been waived under the deal would take full effect after Nov. 4, the department said.<\/p>\n<p>Oil prices have climbed in recent weeks as uncertainty over the future of the agreement rose. A resumption of U.S. sanctions would threaten Iran\u2019s ability to attract foreign investment, keeping the country\u2019s output flat or lower through 2025, according to a research note published Monday by Barclays.<\/p>\n<p>It is unclear what may unfold following the U.S. withdrawal. American and European diplomats have sought to negotiate side agreements aimed at addressing Trump\u2019s concerns about the deal, and the delay in reinstating sanctions may allow those talks to continue \u2014 a prospect that Iran\u2019s ally Russia, a party to the accord, raised ahead of Trump\u2019s announcement.<\/p>\n<p>Russia\u2019s ambassador to the International Atomic Energy Agency, Mikhail Ulyanov, said the Iran deal wouldn\u2019t end immediately as a result of Trump\u2019s action and \u201cwe will have a certain amount of time for diplomatic efforts,\u201d according to the Interfax news service.<\/p>\n<p>Iranian President Hassan Rouhani suggested his country would continue to abide by the agreement, but that it was now between Iran and the five other signatories \u2014 not the U.S.<\/p>\n<h3><strong>Last-Ditch Efforts<\/strong><\/h3>\n<p>Diplomats engaged in the talks on side deals had signalled that they were close to a breakthrough, but key allies have been skeptical that Trump would remain part of the current pact, which curbs Tehran\u2019s nuclear program in exchange for relaxing Western financial sanctions. French President Emmanuel Macron and German Chancellor Angela Merkel signalled after meeting with Trump last month that he seemed intent on quitting the agreement.<\/p>\n<p>Ali Shamkhani, secretary general of Iran\u2019s Supreme National Security Council, was reported to say Tuesday that \u201cif the U.S. initiates confrontation with Iran, we won\u2019t stay passive.\u201dIf the nuclear agreement \u201cgets destroyed due to the U.S. assault, for sure it won\u2019t be to their benefit,\u201d he said, adding that the \u201cbiggest loss will be for the Europeans.\u201d<\/p>\n<p>EU trade with Iran has nearly tripled since 2015.<\/p>\n<p>Following the visits by Merkel and Macron, U.K. Foreign Minister Boris Johnson was in Washington this week to make a last-ditch argument to persuade Trump to remain in the accord, arguing that it is flawed but can be improved by the side agreements.<\/p>\n<p>Johnson met this week with Vice President Mike Pence, National Security Adviser John Bolton, Secretary of State Mike Pompeo and other administration and congressional officials.<\/p>\n<p>Trump foreshadowed his decision on Monday, complaining on Twitter about the Iran agreement and deriding former Secretary of State John Kerry for meeting with Iranian Foreign Minister Javad Zarif two weeks ago at the United Nations to discuss salvaging the deal. \u201cHe was the one that created this MESS in the first place!\u201d Trump said of Kerry.<\/p>\n<h3><strong>Saturday Deadline<\/strong><\/h3>\n<p>Under legislation passed by Congress, Trump has until Saturday to decide whether to keep waiving sanctions on banks of foreign countries that haven\u2019t reduced Iranian oil imports, according to an analysis by the Congressional Research Service. Under that law, those sanctions have to be waived every 120 days.<\/p>\n<p>Trump last agreed to waive the sanctions in January, but his frustration with the agreement has only grown since then. Declining to waive the restrictions again means an assessment of whether foreign countries are violating the sanctions would be due Nov. 8, according to the CRS study.<\/p>\n<p>Israeli Prime Minister Benjamin Netanyahu said Sunday that the 2015 accord is fatally flawed and must be \u201cfully fixed or nixed\u201d to stop Iranian aggression sooner rather than later. His comments came as Iranian President Hassan Rouhani warned that the U.S. would face \u201chistoric\u201d regret if it pulled out.<\/p>\n<h3><strong>Netanyahu\u2019s Role<\/strong><\/h3>\n<p>Netanyahu delivered a televised presentation last week on secret Iranian files his country\u2019s intelligence services obtained that he said prove that Tehran sought to build a nuclear weapon in the past despite its government\u2019s denials. Trump watched the presentation, and White House Press Secretary Sarah Huckabee Sanders issued a statement declaring that the Israeli intelligence proved \u201cIran has a robust, clandestine nuclear weapons program.\u201d<\/p>\n<p>The White House later corrected the statement online to say Iran \u201chad\u201d a nuclear program, blaming a clerical error. Netanyahu did not claim that Iran currently has a nuclear program.<\/p>\n<p>Members of Trump\u2019s own party are split. Representative Mac Thornberry, chairman of the House Armed Services Committee, said Sunday he \u201cwould counsel against\u201d Trump quitting the accord. Representative Ed Royce, who heads the House Foreign Affairs Committee, agreed, saying in a statement Tuesday, \u201cI fear a withdrawal would actually set back these efforts\u201d to stop Iran\u2019s nuclear activities.<\/p>\n<p>But House Majority Leader Kevin McCarthy has said he\u2019s \u201cvery comfortable\u201d that the president is standing up to Iran.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/\"><em>Bloomberg.com<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>West Texas Intermediate crude briefly pared losses as Trump announced his decision<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/8540"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=8540"}],"version-history":[{"count":2,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/8540\/revisions"}],"predecessor-version":[{"id":8572,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/8540\/revisions\/8572"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=8540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=8540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=8540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}