The president has announced his decision on whether or not the US would continue to abide by the Joint Comprehensive Plan of Action, an international agreement on Iran's nuclear program reached in 2015 by Iran, the five permanent members of the Security Council, Germany and the EU.

Axar.az reports citing Reuters.

“I am announcing today that the United States will withdraw from the Iran nuclear deal,” Trump said.

Trump called the Iran deal a "disastrous" embarassment for the US.

"If I allowed this deal to stand, there would be a nuclear arms race in the Middle East," Trump said.

The president added that "powerful" US sanctions against Iran would now go into full effect.

Trump said the US and its allies would work to counter Iran's missile program, its nuclear program, and its meddling across the Middle East.

Earlier, US media reported that Trump was preparing to reinstate all US sanctions against the Middle Eastern country and impose additional economic restrictions, effectively annulling the US's commitment to the JCPOA. These reports were contradicted by a statement by French President Emmanuel Macron's office that Trump had not given him any indication about his plans regarding the nuclear deal.