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Iran threatens to pull out of nuclear deal

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Iran threatens to pull out of nuclear deal

Iran may withdraw from the deal that restricts its nuclear program if it leads to economic struggles and continued difficulty in securing investments from major banks, Reuters reported Thursday.

Big banks have reportedly stayed away from Iranian projects out of fear that it could violate sanctions laid out in the 2015 deal with the U.S., Great Britain, France, China, Germany and Russia. As a result, Iran has struggled with domestic investments and foreign trade.

“If the same policy of confusion and uncertainties about the JCPOA contiues, if companies and banks are not working with Iran, we cannot remain in a deal that has no benefit for us,” said Abbas Araqchi, Iran’s deputy foreign minister.

President Trump has repeatedly criticized the Obama-era deal and threatened to withdraw from the agreement. Last month, the Trump administration waived sanctions that were lifted as part of the deal but imposed new non-nuclear sanctions.

Trump said the measure was done “to secure our European allies’ agreement to fix the terrible flaws of the Iran nuclear deal.”

Trump also spoke out late last year in support of the widespread citizen protests against the Iranian government, earning support from Republican lawmakers and some Democrats.

Iran blamed the U.S. for the protests, which protesters said were in response to poor economic conditions.

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