Trump extends sanctions relief for Iran

Trump extends sanctions relief for Iran

"In 2015, the Obama administration foolishly traded away strong multilateral sanctions to get its weak nuclear deal", the President said.

In a tweet on Friday, Iranian Foreign Minister Mohammad Javad Zarif rejected US President Donald Trump's ultimatum regarding the nuclear deal, saying that the agreement will not be renegotiated.

At the same time the U.S. imposed fresh sanctions on 14 individuals and entities over alleged rights abuses.

In a White House statement, Trump called the waiver a "last chance" to fix the "flaws" of the Iran nuclear deal.

The ministry has once again reiterated the country's position on the issue, opposing the U.S. move concerning the Iran nuclear deal.

But Trump argues that his predecessor Barack Obama gave away too much to Iran in sanctions relief, without forcing the Islamic republic to end its ballistic missile program and support for militant groups.

What are the new sanctions?

Meanwhile, the United States imposed sanctions on 14 individuals and entities for human rights abuses in Iran and supporting Iranian weapons programmes, including the head of Iran's judiciary, Ayatollah Sadeq Larijani. The speculation is that he will keep us in the deal but apply some very specific sanctions to Iranian officials with ties to terrorism.

Should Trump fail to issue future waivers, European entities and businesses will bear the brunt of secondary sanctions, creating a potential crisis in US-EU relations, in addition to whatever actions Tehran might take in response.

Trump said he wants Congress to fix "the deal's many flaws" such as existing sunset provisions.

In Parsi's view, this could prompt Iran to pull out of the deal first.

"You'll be finding out very soon", Trump told reporters in response to a question at the White House amidst reports that he is expected to take a decision as early as Saturday to renew the waiver on United States sanctions against Iran.

What does Mr Trump want to change?

Most of Trump's national security advisers, including Secretary of State Rex Tillerson and Defense Secretary Jim Mattis, have urged him to waive the sanctions again.

To fix what he described "disastrous flaws" in the deal, Trump demanded that Iran be denied "all paths to a nuclear weapon not just for 10 years, but forever", and that Tehran allow "immediate inspections at all sites requested by global inspectors". Russian Federation and China are adamantly opposed to renegotiating the deal, as is Iran.

The president will be open to remaining in the Iran deal only if he can secure that new agreement, officials told CNBC.

But the administration said these negotiations with Europe will not include Iran, which seems to run counter to United Nations and European insistence that any changes made in the deal include all parties.