US President Donald Trump in his address called the nuclear accord or Joint Comprehensive Plan of Action (JCPOA) with Iran – a “horrible, one-sided deal that should have never, ever been made”.
He said he would work to find a “real, comprehensive, and lasting” deal that will tackle not only the Iranian nuclear programme but its ballistic missile tests and activities across the Middle East.
Mr Trump also said he would reimpose economic sanctions on Iran which were waived when the deal was signed in 2015.
According to JCPOA, Iran agreed to limit the size of its stock of enriched uranium for 15 years and the number of centrifuges installed to enrich uranium for 10 years.
In return, sanctions imposed by the UN, US and EU on Iran were lifted.
Now after the withdrawal from the deal, the US Treasury said that the sanctions would directly target industries mentioned in the deal, including Iran’s oil sector, aircraft manufacturers exporting to Iran. Major European and US companies are also likely to be hit.
US National Security Adviser John Bolton warned European companies doing business in Iran and asked them to stop within six months or they too will face US sanctions.
On the other hand, Iran insists its nuclear programme is completely peaceful, and they have complied with the deal which has been verified by the International Atomic Energy Agency (IAEA).
President Rouhani has warned that Iran could resume “industrial-scale” uranium enrichment if the agreement collapses.
