Last month, US President Donald Trump announced that the United States is exiting the 2015 Iran nuclear deal, ending months of speculation. European leaders were calling on Trump to remain party to the deal, but he refused. In his speech, Trump pointed out that the nuclear deal was founded on lies and deception. Furthermore, Iran’s nuclear ambitions were not curbed and the billions of dollars that Iran benefitted from as a result of the lifting of sanctions was plundered on terrorist activities and the financing of proxy groups across the Middle East.
The Trump administration is implementing a return of sanctions and very few international businesses and enterprises will dare to risk jeopardising their relationship with the United States – the biggest and most powerful body in the financial system. Major deals are already falling apart and numerous negotiations have ended. The Iranian Regime’s Foreign Minister has been taking measures to persuade the other signatories of the deal to remain in it. However, without the United States, many are saying the deal cannot be valid.
If the deal was to fall apart, as many believe it will, can the Iranian economy survive? It is highly unlikely as the country’s economy is already in great difficulty and has been for quite some time. Add crippling sanctions to Iran’s finance and oil transactions and there is very little hope indeed.
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