Dubai’s largest bank, Emirates NBD, explained that the energy markets indicate that the US will pull out of the accord, formally known as the Joint Comprehensive Plan of Action, and reimpose sanctions on Iran, thus making it harder for the rest of the world to access Iranian oil (800,000 barrels per day).
This is hardly surprising. Trump has threatened several times that he would pull out of the agreement, which he called the “worst deal ever”, before he gave this final May 12 deadline to fix the flaws of the deal back in January.
The deal, which lifted international sanctions against Iran in exchange for curbs to its nuclear programme, has always been controversial. Many refused to trust the mullahs because of their history of lying to the West about their nuclear programme, while many cited the dangers of working with a regime with such horrific human rights abuses.
In the interim period, the Regime has failed to stop work on their nuclear programme, spent the money gained on their military, rather than then people, and increased their crackdowns on the Iranian people’s human rights.
As fixes, to address Iran’s malign military adventures in the Middle East, their ballistic missile programme, and a lack of international inspections, have not materialised, Trump has every right to pull out of the deal.
More importantly, pulling out of the nuclear deal is the right thing for Trump to do in order to support the Iranian people.
As noted, the Iranian Regime is ploughing the money from the deal into its military, whilst its people are living in poverty. Some of this military funding is being used to suppress the legitimate protests by the Iranian people. If Trump was to cut off that funding, by reimposing sanctions, he would allow the Iranian people to stand up stronger against their oppressors and gain regime change.
Iranian President Hassan Rouhani and other members of the Iranian Regime have threatened Trump about pulling out of the deal, but this just belies how scared they are of losing it.
Trump should ignore these empty threats and let his conscience be his guide.