Trump exits Iran nuclear deal: 'No immediate impact on India's oil imports'

US President Donald Trump on Tuesday said that he would withdraw his country from the Iran nuclear deal. With the exception of Saudi Arabia, the decision immediately drew global frustration and outcry, including from Trump's predecessor, Barack Obama. Announcing the US' exit from the Iran deal in a televised speech from White House, Trump said that he would not sign the waiver of nuclear-related sanctions against Iran. Instead, he said, he would re-impose sanctions lifted under the multinational nuclear deal against Teheran and nations it had business links with. Meanwhile, experts said India's oil imports from Iran would not be immediately impacted.

Reacting to the development, Iranian President Hassan Rouhani said he would discuss Trump's decision with Europe, Russia, and China.

Trump said that the US will impose "the highest level" of economic sanctions on Tehran. "Any nation that helps Iran in its quest for nuclear weapons could also be strongly sanctioned by the United States," he added. Subsequently, the White House said that Trump had directed his administration to "immediately begin the process of re-imposing sanctions" related to the Iran nuclear deal.