By John Lee.
US President Donald Trump has said he will withdraw the United States from Iran nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).
In a live statement, the President said:
“I will sign a presidential memorandum to begin reinstating U.S. nuclear sanctions on the Iranian regime. We will be instituting the highest level of economic sanction. Any nation that helps Iran in its quest for nuclear weapons could also be strongly sanctioned by the United States.
“America will not be held hostage to nuclear blackmail. We will not allow American cities to be threatened with destruction. And we will not allow a regime that chants “Death to America” to gain access to the most deadly weapons on Earth.“
Secretary of State Mike Pompeo added:
“As we exit the Iran deal, we will be working with our allies to find a real, comprehensive, and lasting solution to the Iranian threat. We have a shared interest with our allies in Europe and around the world to prevent Iran from ever developing a nuclear weapon.”
With regard to the reimposition of sanctions, Treasury Secretary Secretary Steven T. Mnuchin said:
“[The] Treasury’s Office of Foreign Assets Control (OFAC) is taking immediate action to implement the President’s decision. Sanctions will be reimposed subject to certain 90 day and 180 day wind-down periods. At the conclusion of the wind-down periods, the applicable sanctions will come back into full effect.
“This includes actions under both our primary and secondary sanctions authorities. OFAC posted today to its website frequently asked questions (FAQs) that provide guidance on the sanctions that are to be re-imposed and the relevant wind-down periods.“
(Sources: The White House, US State Department, US Treasury Department)