Defence company stocks rise after USA pulls out of Iran deal

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Trump told reporters about the plan about 24 hours after officially withdrawing from the Obama-era agreement, calling it "defective at its core".

"That's not a deal for the United States".

After the flag burning, parliament speaker Ali Larijani said responsibility for saving the deal fell on the European Union and other world powers still in the accord. On behalf of the Iranian nation I will say, "Mr. Trump, you can't do a damn thing'". "If they do there will be very severe consequences".

The president has strongly advised Iran to not start up a nuclear program, saying "they'll negotiate or something will happen, and hopefully that won't be the case".

Ignoring pleas by allies, Trump on Tuesday pulled out of an worldwide deal with Iran that was agreed in 2015, a move that raises the risk of conflict in the Middle East and casts uncertainty over oil supplies in an already tight market.

The United States will likely re-impose sanctions against Iran after 180 days, unless some other agreement is reached.

Finally, while Obama may be mistaken in saying that the JCPOA is working and has effectively rolled back Iran's nuclear program, he could be correct in predicting that Trump's move "could embolden an already unsafe regime; threaten our friends with destruction; pose unacceptable dangers to America's own security; and trigger an arms race in the world's most risky region". President Hassan Rouhani said Iran will push to make the deal work but may increase uranium enrichment if the European efforts don't yield tangible results.

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"After engaging with the US Administration in a thorough manner over the past months, we call on the US to do everything possible to preserve the gains for nuclear non-proliferation brought about by the JCPoA [Iran deal], by allowing for a continued enforcement of its main elements", the statement read.

Iranian lawmakers on Wednesday raged about Trump's decision - burning a copy of the agreement along with an American flag while bellowing "Death to America!"

"Trump's abandoning of the nuclear deal was a diplomatic show..."

Trump's decision could eventually mean less oil on the world market from Iran because now the USA will reimpose economic sanctions on Iran that were lifted as part of the 2015 deal.

China buys the largest share of Iranian oil, and most of the rest is sold to the other top Asian consumers, Japan and South Korea, which have also indicated that they will continue business with Iran despite the USA decision. But paying Iran for the oil India buys would become hard in case European countries join the United States and impose financial sanctions and block banking channels, he said.

French Foreign Minister Jean-Yves Le Drian said the deal is "not dead", despite Trump's move. Yet, not all analysts believe that if the US walked away from the deal, oil prices would jump higher.

The president added: "If they do, there will be very severe effect". If the government wants to make an agreement, they should ask for a guarantee, or else [Europe] will all do just as the United States did.

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