Oil Holds On to Gains After Trump's Iran Decision

President Donald Trump announced that he would be taking the United States out of the "rotten" Iran nuclear deal, which he considers "the worst deal ever".

"We urge the USA to ensure that the structures of the JCPOA (deal) can remain intact and to avoid taking action which obstructs its full implementation by all other parties to the deal", the leaders of Britain, Germany and France said in a joint statement provided by Prime Minister Theresa May's office.

O'Toole added, "You can't be powerful without good people in government".

"Our aim is clear: We keep committed to the nuclear deal".

"It can not be in the interest of Iran to jeopardize the path that we have chosen with that deal and the chances that have occurred to Iran because of it". It lifted certain sanctions on Iran, allowing it greater access to the world economy in exchange for the halting of its nuclear program and regular United Nations inspections.

These countries were anxious that Iran was on its way to creating nuclear weapons - something it denied.

"That'll have a significant ripple effect on Iran's economy". Additionally, sanctions meant to reduce other countries' purchases of Iranian oil will be reinstated. And it will make it extremely hard for European companies to do substantial business with Iran.

Iran has always denied seeking a nuclear weapon, insisting its atomic program was for civilian purposes.

In response, Rouhani warned Iran could resume uranium enrichment "without limit".


Why didn't Trump like the deal?

Much of President Donald Trump's bellicose appeal to voters on the campaign trail in 2016 was based on his public image as a pre-eminent deal maker.

Yesterday, India had said that all the parties concerned should engage constructively to resolve the Iranian nuclear issue peacefully.

Iran is backing the Shiite Huthi rebels in Yemen's civil war.

"We know that standing firmly in support of the JPCOA with our North Atlantic Treaty Organisation allies and others is extremely important", Trudeau said.

Apart from France, Britain and Germany have also said that they would work with Iran to try to save the nuclear deal. They believe the nuclear deal could have been strenghened, and that a U.S. pull-out will enable and encourage Iran to restart its nuclear program. The EU stresses its commitment to ensuring that this can continue to be delivered.

But Iran's supreme leader, Ayatollah Ali Khamenei, doesn't appear to have much faith. "I don't have confidence in these three countries".

It is unclear at this point what the future of the deal might entail, but European leaders have already indicated a willingness to continue to pursue the deal without USA involvement.

He said the United Kingdom would "strive to preserve the gains" made by the 2015 agreement.


Chagai Tzuriel, director general of Israel's Ministry of Intelligence, told The Canadian Press that he was seeking support from Canada and Western countries for either cancelling or strengthening a deal that his government views as flawed and ultimately ineffective in stopping Iran's pursuit of nuclear weapons.

But Trump and his deputies repeatedly insisted that the inspections authorized in the agreement were not tough enough.

"What now is the alternative policy towards Iran?"

That's the view of the BBC's diplomatic correspondent Jonathan Marcus. As I say, I think that there are ways of helping address some of President Trump's concerns.

The president has said that he was open to renewed negotiations - but there's no details of what the new terms would involve.

Israel and Saudi Arabia welcomed the American move.

Follow Newsbeat on Instagram, Facebook and Twitter.

As Jonathan Marcus tells Newsbeat: "The consequences of what Mr Trump has done could be massive".


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