Trump grants sanctions relief to Iran one 'last time'

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But he says this waiver will be the last and is meant to secure an agreement from European allies to fix what he says are flaws in the pact.

Regarding the U.S.'s continued involvement in the Iran nuclear deal - which Trump has called multiple times "one of the worst deals I've ever seen" - the president said: "Despite my strong inclination, I have not yet withdrawn the United States from the Iran nuclear deal".

"I hereby call on key European countries to join with the United States in fixing significant flaws in the deal, countering Iranian aggression, and supporting the Iranian people", Trump said in the statement. "It would send a very dangerous signal to the rest of the world if the only agreement that prevents the proliferation of nuclear weapons was negatively effected".

Although he will uphold the agreement by waiving sanctions targeting Iran's access to the international financial system, Trump is also expected to reinstate sanctions targeting Iranian firms and individuals that were scrapped as part of the 2015 nuclear deal, AP reported, citing six people briefed on the matter.

In one possible compromise, Trump could choose not to reimpose the sanctions that were eased under the nuclear deal but could slap other punishments on Iran, a pattern he has followed over the last year.

"The United States will not stand by while the Iranian regime continues to engage in human rights abuses and injustice", Treasury Secretary Steven T. Mnuchin said.

He also deemed the new sanctions as "illogical" and a violation of the nuclear deal, reported Iran's ISNA news agency.

The US president grudgingly waived further economic measures against the Islamic Republic today after pressure from allies including the UK.

The US still maintains separate sanctions on Iran related to matters such as terrorism, human rights and ballistic missile development.

European governments have strongly supported the Iranian nuclear deal and insisted they will abide by it whatever the Trump administration decides.

If Trump's fixes aren't met within 120 days, the White House signaled that the deal would be nixed altogether.

The group's leaders are the lineal heirs to Dr. Mohammad Mossadegh, the colorful nationalist and elected prime minister of post-war Iran. That lack of support will make isolating Iran "much more difficult", says Business Insider, and "some analysts argue that the Washington crackdown could merely push Iran to begin selling oil under contracts denominated in [Chinese] yuan rather than dollars". "We are cutting off the regime's money flows to terrorists", the president said in the statement. The sanctions, when they are in place, target third parties overseas that deal with Iran and have the effect - because of the reach of the U.S. dollar - of severely inhibiting trade with Iran. Iran must allow "immediate inspections at all sites requested by international inspectors", he said, and "sunset" provisions imposing limits on Iran's nuclear program must not expire.

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