Iran argues that continued US sanctions on other, non-nuclear, areas such as human rights and missile testing have effectively barred Iran from gaining numerous financial benefits expected from the deal.
The official added that President Trump intends to "work with our European partners on some kind of follow-on agreement that enshrines certain triggers that the Iranian regime can not exceed related to ballistic missiles, related to nuclear breakout period that holds them to one year or less, would hold them to inspections and would have no sunset clause". I said I would not certify the nuclear deal-and I did not. During Barack Obama's presidency, these penalties largely cut Iran out of the worldwide financial system, until they were suspended under the nuclear deal.
One official said Trump would be open to remaining in a modified deal if it was made permanent.
Trump yesterday gave an ultimatum to "either fix the deal's disastrous flaws, or the United States will withdraw". All sides agreed that it would only cover Iran's apparent efforts to develop nuclear weapons, which was in violation of United Nations resolutions, and not other issues.
For weeks, world leaders have speculated whether Trump, who on the campaign trail called the Iran agreement "the worst deal ever", would carry through and pull out of the global agreement.
In particular, Trump's desired accord would not begin to expire after 10 years as parts of the existing deal do. Should Trump fail to issue future waivers, European entities and businesses will bear the brunt of secondary sanctions, creating a potential crisis in US-EU relations, in addition to whatever actions Tehran might take in response.
White House is working with Congress on a US legislation, which seeks provisions to permanently prevent Iran from acquiring nuclear weapons and subject Iran's long-range missile program to severe sanctions.
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Iran's Foreign Minister Mohammad Javad Zarif said it was a "desperate attempt" to undermine a "solid" deal.
The Trump administration has accused Iran of fomenting instability and violence across the Mideast, and the president's decision gives the White House and Congress more time to forge legislation punishing the country for that behavior without directly ending the nuclear accord that Iran reached with the USA and five other world powers.
"In a background briefing with reporters, senior administration officials also warned that this will be [the] last such waiver, calling on a follow-up deal with Europeans and a legislative fix from Congress", The Hill reported.
Opponents of the deal note that it doesn't address Iran's support for militant groups or its continued missile development and that the country can use the money it gets from sanctions relief to support those destabilizing efforts.
USA officials say the president will work with European partners to try to broker an agreement limiting Iran's ballistic missiles activities.
"The United States will not stand by while the Iranian regime continues to engage in human rights abuses and injustice", Treasury Secretary Steven Mnuchin said Friday.