WASHINGTON – 09 :-
The suspicions of the Iranian contract have been true for some days now. US President Donald Trump has decided to cancel the US-Iran nuclear deal. The agreement was signed by the Obama Administration between Iran and the US in the name of Joint Comprehensive Plan for Action (JCPOA). Trump has said that I do not see Iran’s nuclear bombs being impossible to stop, so I am making a decision to withdraw the deal. Trump had already opposed this agreement before coming to power. He also clarified that this agreement is wrong from the origin.
Iran would have got enough money from this agreement but could not stop them from buying nuclear weapons. The United States has imposed new restrictions on Iran and indicated that other countries should stay away from Iran. Talking about this agreement, Trump said, “This agreement was one-on-one, never wanted to be done, and no peace was ever established and never was there anymore.” Not only that, the assurances given by Iran to leave their nuclear program are an ominous one. Continuation of this agreement would have escalated the arsenal in Middle East and could not stop the behavior of Iran’s instability.
Oil prices have started to flare up due to the new restrictions imposed by the United States on Iran. Already the rate of oil is rising due to the volatility and decrease in Venezuela’s production. In the same way, the decision of the Trump administration to increase oil prices has increased by 2 to 3.5 percent today. The oil rates have gone up to 76.75 per barrel. For the first time since November 2014, the level of oil has reached this level.