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New story in Health from Time: Weekend Recipe: An Asparagus Salad That Will Wow Dinner Guests
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New story in Technology from Time: Snapchat’s New Spectacles Can Do One Important Thing the Old Version Couldn’t
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New world news from Time: President Trump Tells Macron He Will Exit Iran Nuclear Deal: Report

New world news from Time: President Trump Tells Macron He Will Exit Iran Nuclear Deal: Report

http://time.com/5269666/trump-macron-iran-nuclear-deal/

President Donald Trump told French President Emmanuel Macron on Tuesday that he would withdraw from the landmark Iran nuclear accord, the New York Times reported, a move that would plunge the Mideast into a new era of uncertainty.

The Times reported Trump plans to announce he will reimpose all U.S. sanctions that were waived under the terms of the 2015 nuclear agreement and impose new penalties on the Islamic Republic. The paper cited a person briefed on the conversation between Trump and Macron that it didn’t identify.

West Texas Intermediate crude fell as much as 4.4 percent after CNN reported that Trump is expected to allow sanctions to go forward on Iran but may not completely pull out of the accord, then pared the decline after the New York Times report. West Texas crude was down 2.2 percent at 11:58 p.m. New York time

The president has long criticized the Iran deal, negotiated under his predecessor Barack Obama, as the “worst” ever. He has complained it doesn’t address threats from the country’s ballistic missile program or its involvement in regional conflicts, and that provisions of the deal that expire in the next decade would allow Iran to resume some nuclear work.

Trump said in a tweet on Monday that he’ll announce his decision at 2 p.m. Tuesday in Washington, ahead of a May 12 deadline set by U.S. law to continue waiving U.S. sanctions lifted by the accord.

Oil prices have climbed in recent weeks as uncertainty over the future of the agreement rose. A resumption of U.S. sanctions would threaten Iran’s ability to attract foreign investment, keeping the country’s output flat or lower through 2025, according to a research note published Monday by Barclays.

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