Uncertainty over Iran nuclear agreement could heighten economic tensions with Europe


A decision by President Trump to back out of the Iranian nuclear agreement could derail billions of dollars in Western investment heading toward Iran and trigger European economic retaliation against U.S. businesses, analysts say.

“It signals the breakdown of consensus between the U.S. and its European allies,” said Hassan Hakimian, director of the London Middle East Institute.

Trump is expected to announce his decision this week to decline to certify the nuclear deal. The 2015 agreement, signed by President Barack Obama, along with Britain, France, Germany, Russia and China, lifts international sanctions on Iran in return for a long-term suspension of its nuclear development program. Source.