Trump Further Dismantles Obama Legacy

President Donald Trump said the U.S. will withdraw from the landmark 2015 accord to curb Iran’s nuclear program and reinstate financial sanctions on the Islamic Republic, opening an uncertain new chapter for the Middle East.

His decision, widely anticipated by allies and analysts before his announcement Tuesday at the White House, was intended to force Iran to renegotiate an agreement the country’s leaders have said they will not revisit. Trump’s political opponents warned he could lead the U.S. into another Mideast war.

“The fact is this was a horrible one-sided deal that should have never ever been made,” Trump said. “We cannot prevent an Iranian nuclear bomb under the decaying and rotten structure of the current agreement. The Iran deal is defective at its core.”

West Texas Intermediate crude briefly pared losses as Trump announced his decision. The price for June deliveries of the commodity fell $1.32 to $69.41 a barrel at 2:28 p.m. in New York.

Read more at Bloomberg.