Trump withdraws US from Iran nuclear deal

The Treasury Department will be taking “immediate action” to implement President Trump’s decision to withdraw from the Iran nuclear deal.

The agency said sanctions will be reimposed subject to certain 90-day and 180-day wind-down periods. Once the wind-down period has finalized, sanctions will come back into full effect. Those sanctions include both the US primary and secondary sanction authorities.

“We will continue to work with our allies to build an agreement that is truly in the best interest of our long-term national security,” said Treasury Secretary Steven Mnuchin in a statement. 

He said the US will cut off Iran's Islamic Revolutionary Guard Corps' access to capital to fund Iranian malign activity, including:

There are increasing concerns Iran is on the cusp of an attack against Israel, several US military officials tell CNN.

Intelligence is not clear on when an attack could come and what form it would take, these officials tell CNN. 

The US is watching very closely to see if Iranian-backed actions could come from inside Syria or Lebanon, or even from inside Iran itself, though that would be considered a major military escalation.

The Israeli army has instructed authorities in the Golan Heights, in the north of the country, to open civilian shelters after detecting what it calls “irregular activity” of Iranian forces in Syria.

In a statement, the army says its troops are on high alert for an attack and defense systems have been deployed. The statement warned that “any aggression against Israel will be met with a severe response.” The statement goes on to say that “the Israeli public should remain attentive to IDF instructions that will be given if necessary. 

The US-led coalition fighting ISIS inside Syria said today that that they have seen “no change” in behavior of Iranian backed forces inside Syria in recent days.

The European Union's top diplomat says Europe is “determined to preserve” the Iran deal following President Trump’s decision to withdraw from it.

The EU’s Foreign Minister, Federica Mogherini, said she expects the “rest of the international community to continue implementing the Iran nuclear deal.” 

“The Iran nuclear deal is working and delivering, to ensure Tehran doesn’t develop nuclear weapons,” Mogherini said in Rome.

Senate Minority Whip Dick Durbin said President Trump’s announcement “is a mistake of historic proportions."

“The last thing America and the world need right now is a new nuclear threat, he said. "Breaking this deal increases the danger that Iran will restart its nuclear weapons program, which threatens our ally, Israel, and destabilizes the entire Middle East."

House Minority Leader Nancy Pelosi called the Iran decision “dangerous and impulsive.”

"Today is a sad day for America’s global leadership," she said. "The Trump Administration’s dangerous and impulsive action is no substitute for real global leadership.”

Nikki Haley, the US ambassador to the United Nations, said Trump "absolutely made the right decision" to leave the Iran nuclear deal.

"This was a terrible deal that only allowed Iran’s bad international conduct to worsen," she said in a statement.

Here's the full statement:

Israeli Prime Minister Benjamin Netanyahu said Israel fully supports President Trump’s announcement to withdraw from the Iran nuclear deal.

His remarks were made in a live television address from Jerusalem after Trump’s address.

French President Emmanuel Macron just tweeted against Trump’s decision to leave the Iran deal.

In another tweet, he added: “We will work collectively on a broader framework, covering nuclear activity, the post-2025 period, ballistic activity, and stability in the Middle-East, notably Syria, Yemen, and Iraq.”

President Trump, before signing a presidential memorandum to begin reinstating US sanctions on the Iranian regime, said his action sends critical message: "The United States no longer makes empty threats.”

Oil prices are making a comeback as President Trump announces the United States will withdraw from the Iran nuclear deal.

In volatile trading, US crude is down about 1% for the day. It was down as much as 4.4% earlier.