President Trump on Tuesday pulled the US out of the Iranian nuclear deal despite warnings that it could ratchet up tensions in the volatile region and make it easier for the mad Mullahs to develop nuclear weapons.

“The Iranian regime is the leading state sponsors of terror,” Trump said, accusing the regime of supporting terrorists throughout the region.

“In 2015 the previous administration joined with other nations in a deal on Iran’s nuclear program. The theory was supposed to protect the U.S. and its allies from the lunacy of an Iranian nuclear bomb,” the president said at the White House, reading from a Teleprompter.

“The fact is this was a horrible, one-sided deal that should never, never have been made,” he added.

“The Iran deal is defective at its core. If we do nothing, we’ll know exactly what will happen. There for, I am announcing today that the United States will withdraw from the Iran nuclear deal.”

He also said he would institute “the highest level of economic sanctions.”

Trump told French President Emmanuel Macron earlier Tuesday morning that he would announce the withdrawal and reinstate all sanctions it had waived as part of the 2015 nuclear accord and impose additional economic penalties.

Talks to keep the accord intact collapsed over the president’s insistence that sharp limits be kept on Iran’s nuclear fuel production after 2030.

The current agreement — which Trump has called “insane” and “the worst deal ever” — removes those limits.

Trump’s decision means Iran’s government must now decide whether to follow the U.S. and withdraw or try to salvage what’s left of the deal. Iran has offered conflicting statements about what it may do — and the answer may depend on exactly how Trump exits the agreement.

Source » marketwatch