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Iran nuclear deal - live updates: Obama calls Trump decision to withdraw from accord a 'serious mistake' Iran nuclear deal - live updates: Obama calls Trump decision to withdraw from accord a 'serious mistake'
(about 2 hours later)
Donald Trump has said the US is withdrawing from the Iran nuclear deal. President Donald Trump has pulled the United States from the Iran nuclear deal and is set to reimpose severe sanctions on Tehran, in a decisive break with European allies that could also bring a new crisis in the Gulf.
The US president has consistently threatened to leave the 2015 deal because it does not address Tehran's ballistic missile programme or its wars in Syria and Yemen. Mr Trump said the sanctions, which will violate the international nuclear agreement, would penalise Iran for what he described as “state-sponsored terror” in the Middle East, which works against the United States and its allies. The president said that "any nation that helps Iran in its quest for nuclear weapons could be strongly sanctioned" as he signed an order that would re-impose sanctions on foreign countries that continue to do business with Iran.
European leaders have warned such an outcome would scupper the deal and undo years of work, with France's President Emmanuel Macron speaking with Mr Trump via phone during the morning. Mr Macron, UK Prime Minister Theresa May and German Chancellor Angela Merkel expressed "regret and concern" over Mr Trump's decision in a joint statement after the announcement. In a speech at the White House, Mr Trump said the Iran deal was “decaying and rotten” and “defective at its core”. He cited the Iranian development of ballistic missiles – an issue not addressed in the deal – as a breach of the spirit of the deal by Iran, which he said has “murdered hundreds of American service members, and kidnapped, imprisoned and tortured American citizens”.
Former US President Barack Obama called the withdrawal a "serious mistake". “I am announcing today that the United States will withdraw from the Iran nuclear deal,” Mr Trump said, undermining what had been the biggest foreign policy success for his predecessor, Barack Obama. Mr Obama called the decision "misguided" and a "serious mistake".
A withdrawal will ratchet up tensions in a region divided by interrelated conflicts, including the multi-layered conflict in Syria, where Iran's presence has brought it into conflict with Israel. The decision follows weeks of speculation about what Mr Trump would do, as officials from France, the UK and Germany – the three European signatories on the Iranian deal – worked to try to convince Mr Trump to keep the agreement intact ahead of a 12 May deadline. 
It will also impact oil markets due to Iran's role as a major exporter. Mr Trump's decision means Iran's government must now decide whether to follow the US and withdraw or try to salvage what's left of the deal. Berlin, London and Paris have all the urged the US not to take any actions that could prevent them and Iran from continuing to implement the agreement. 
In a tweet, Mr Trump said he would make the announcement at 2pm (6pm GMT) on Tuesday. However, in Washington, the Trump administration said it would re-impose sanctions on Iran immediately but allow grace periods for businesses to wind down activity. 
Iran suggested its economy would not be hurt whatever happened, but its rial was near record lows against the dollar in the free market as Iranians tried to buy hard currency, fearing financial turmoil if Mr Trump leaves the deal. The US Treasury Department said there would be “certain 90-day and 180-day wind-down periods” but didn't specify which sanctions would fall under which timelines. The department said that at the end of those periods, the sanctions will be in “full effect.” 
"One man in one country might create some problems for us for a few months, but we will overcome those problems," Iran's president, Hassan Rouhani, said in remarks broadcast on state TV. National Security Adviser John Bolton said nobody should sign contracts for new business with Iran. 
"If we are under sanctions or not, we should stand on our own feet. This is very important for the development of our country." It is not clear exactly what will happen to the Iran deal now that the United States is no longer a party, as those other countries and Iran may find a way to keep some semblance of the deal together. Iran's main regional rivals, Israel and Saudi Arabia, both praised Mr Trump's decision.
The Iran deal, negotiated during Barack Obama's administration, eased economic sanctions on Iran in exchange for Tehran limiting its nuclear program. Iranian President Hassan Rouhani said on Monday that the deal could survive if Mr Trump pulls away, a statement that is buoyed by the fact that the thawed relations between Iran and Europe has allowed European entities to start doing business within Iran.
Mr Trump has called it the "worst deal ever negotiated" and said he wants Britain, France and Germany - which also signed the pact along with Russia and China - to toughen up the terms. But while he appears willing to try and keep the agreement in place, Mr Rouhani said in the wake of Mr Trump's address that he has “ordered the Atomic Energy Organisation of Iran to be ready to start the enrichment of uranium at industrial levels”, but added that he would “wait a few weeks” to start that enrichment so that Iran can speak to allies and the other countries in the deal.
He has until Saturday to decide whether to extend the waivers or withdraw and reintroduce sanctions related to Iran's central bank and Iranian oil exports.  “All depends on our national interests,” Mr Rouhani said of whether he will restart the enrichment.
Iran has said it will not renegotiate the accord and threatened to retaliate if the United States pulls out, although it has not said how. There have been concerns from some in the US Congress and beyond that a decision to violate the Iran agreement would impact on the upcoming summit between Mr Trump and North Korean leader Kim Jong-un over Pyongyang's nuclear and ballistic programmes. Perhaps mindful of this, Mr Trump said during his announcement that US Secretary of State Mike Pompeo was on his way to the North Korean capital and that he would arrive "€œvery shortly". Mr Trump said that the two countries had already agreed on a date and location for the unprecedented summit, though he stopped short of providing details.
Mr Trump's national Security Adviser John Bolton said the Iran decision would not derail a parallel effort to dismantle North Korea’s nuclear programme, arguing that the abandonment of the Iran pact would strengthen America’s position by telegraphing that the US would rebuff unsatisfactory offers.
“I think the message to North Korea is the president wants a real deal”, Mr Bolton told reporters. “It sends a very clear signal that the United States will not accept inadequate deals”.
“Any nation reserves the right to correct a past mistake”, Mr Bolton added in reference to the Iran deal.
Additional reporting by agenciesAdditional reporting by agencies