Arab League Secretary Stresses Need to Review Iran Nuclear Deal

Arab League Secretary Stresses Need to Review Iran Nuclear Deal

Iran produces about 3.8 million barrels per day (bpd) and the country is OPEC's third-biggest producer, behind Saudi Arabia and Iraq.

On Tuesday, U.S. President Donald Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.

Trump said on Tuesday that the 2015 nuclear deal, which lifted sanctions on Iran in return for measures restricting its nuclear programme, did not go far enough in removing the threat posed by Tehran to the USA and its allies in the Middle East.

The president was quoted saying the following. "It didn't bring calm, it didn't bring peace, and it never will".

"We believe the nuclear deal was flawed", al-Jubeir said, criticizing portions of the agreement that expire and the fact that its scope is limited to nuclear issues.

Meanwhile, European allies sought to salvage the worldwide nuclear pact with Iran.

"Constructively, in effect, Trump's talk sounded like a declaration of war against Iran, with the first step being to tighten up the "blockade" of Iran, meaning in the 21st century version of that, U.S. sanctions", Pierce said.

On May 1, Israeli Prime Minister Benjamin Netanyahu presented what he alleged was "new and conclusive proof" of violations, and claimed Iran had lied about its capabilities at the time of the agreement's signing.

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The renewed sanctions, aimed at the heart of the Iranian economy, will impact the country's energy, financial, and petrochemical sector.

The International Energy Agency said Wednesday that it was "ready to act" to alleviate any supply shortfall in the wake of the USA move. The JCPOA is working - that is a view shared by our European allies, independent experts, and the current U.S. Secretary of Defense.

Jubeir's comments came amid growing tension between the Sunni kingdom and the Islamic republic over Iran's support for the Houthi rebels in Yemen.

The administration would be wise to coordinate strategies on both the Iran and Saudi Arabia nuclear programs.

In April, the Houthis fired a barrage of ballistic missiles targeting Saudi Arabia, with fragments of one missile over Riyadh killing one person and wounding two.

"The Omani, Qatari, and Kuwaiti governments have all sought to maintain pragmatic relations - economic more than political - with Iran", said Kristian Coates Ulrichsen from the Texas-based Rice University's Baker Institute.

Trump has employed similar arguments, criticizing the accord for failing to address Iran's ballistic missile program, its nuclear activities beyond 2025, or its role in regional wars.

Members of Iranian parliament struck a similar tone, burning a US flag and chanting "death to America".