Terming the ‘Iran Nuclear Deal’ signed during the Obama’s administration as ‘horrible and one-sided’, President Donald Trump withdrew the United States from the deal actually called the JCPOA or the ‘Joint Comprehensive Plan of Action’. Trump said that the deal didn’t bring peace and won’t prevent Iran from getting a nuclear weapon. Trump also said that the United States will reinstitute powerful sanctions on Iran.
The US Treasury Department has said that restoration of some sanctions will be effected after a 90-day period, with the other sanctions coming into effect after a 180-day period. Once sanctions are reimposed, the US effectively would be out of the ‘Iran Nuclear Deal’.
The Democrats including former President Barack Obama have criticized Trump’s withdrawal. Iranian President Hassan Rouhani has sought to calm nerves saying that its possible that Iranians will face some problems for two or three months, but they will pass through this. On the other hand, Israeli Prime Minister Benjamin Netanyahu has supported President Trump’s ‘bold decision’. Like Obama, European Union nations too have decried President Trump’s decision.
With the US President Donald Trump withdrawing the United States from the Iran Nuclear Deal, the world stands right at the doorstep of direct conflict. Many consider it a step further towards the Third World War.
Moreover, apart from the direct conflict which looks imminent with the withdrawal of the United States, in other possibilities, EU companies may be forced to exit Iran due to US tightening its sanctions.
With the pressure mounting on Iran, its hardline regime will boost its nuclear program which may further push it in the hands of China-Russia, thereby setting up a clash against the United States, Israel and Saudi Arabia.
Worldover, the common man can expect gold prices to soar, stock markets to tank, the oil prices to rise, thereby adding to overall price rise.