WASHINGTON (Reuters) – President Donald Trump said on Tuesday he was reimposing economic sanctions on Iran and pulling the United States out of an international agreement aimed at stopping Tehran from obtaining a nuclear bomb.
“I am announcing today that the United States will withdraw from the Iran nuclear deal,” Trump said at the White House. “In a few moments, I will sign a presidential memorandum to begin reinstating US nuclear sanctions on the Iranian regime. We will be instituting the highest level of economic sanctions.”
Iran has ruled out renegotiating the agreement and threatened to retaliate, although it has not said exactly how, if Washington pulled out.
Renewing sanctions would make it much harder for Iran to sell its oil abroad or use the international banking system.