Trump's withdrawal from the Iran deal raises frightening questions

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Or this could be achieved through via bilateral deals, for instance, the €5bn credit agreement that Italy signed with Iran in January 2018 for Italian corporates to invest into Iran.

What happens now? The reintroduction of sanctions will not just hurt the people of Iran, but United States companies such as Boeing which loses a United States $20 billion (NZ$28.8b) contract with Iranian airlines.

Wednesday's hearing was focused on the Pentagon's $686 billion budget for 2019, which Durbin described as the "largest budget of any department ever in the history of the United States of America", urging Mattis to be responsible with taxpayer funds.

One of the State Department's top nuclear experts resigned this week after President Donald Trump made the controversial decision to withdraw the USA government from the Iran nuclear deal.

But others say it was a awful deal that sped up their nuclear ambitions.

"Consultations and cooperation between Iran and France will continue in line with securing common interests as well as security and stability in the region", said the president.

And the Number 10 spokesman added: "The Prime Minister raised the potential impact of U.S. sanctions on those firms which are now conducting business in Iran". If you have customers in these places, ending the Iran nuclear deal could boost your business.

Trump on Wednesday expressed pessimism that tensions between the US and Iran would ease anytime soon.

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You've been seeing one effect of leaving the Iran nuclear deal for a while now in the form of higher oil prices, and thus higher prices at the pump. It's been going on for some time.

Much of President Donald Trump's bellicose appeal to voters on the campaign trail in 2016 was based on his public image as a pre-eminent deal maker. There are multiple reasons prices have been going up, but speculation that Trump would announce the U.S.'s departure from the deal was one of those reasons.

Yet a key reason that the president gave for quitting the Iran deal is alleged evidence from Israel that Iran was not in compliance.

While Trump's decision to withdraw from the agreement has drawn praise from Republicans, Israeli Prime Minster Benjamin Netanyahu and Saudi Arabian leaders among others, it's brought dismay elsewhere, from Democrats to European leaders.

Mattis told lawmakers that President Trump did not make his decision in haste, suggesting that the administration is working on an alternative effort to prevent Iran from obtaining nuclear weapon capabilities. Those on the left say the Iran deal would have prevented a nuclear Iran. But that isn't the question we should be asking. In Syria, the regime of President Bashar al-Assad is "still in power today, still murdering his own people" with the backing of Iran.

Remember, in March the USA participated in a joint military exercise in Israel to play out a scenario of an Iranian attack.

French carmaker Peugeot has a $430 million deal to produce cars with an Iranian partner; its parent company said in January that it would open a new headquarters in Atlanta as part of a USA "comeback".