United States President Donald J. Trump on Tuesday announced his decision to withdraw from the Obama-era Iran nuclear deal and said it was one of the “worst and most one-sided transactions” the US had ever entered into.

The decision was on expected lines as Trump has repeatedly criticised the landmark nuclear deal with Iran.

The White House said Trump was terminating the US participation in the Joint Comprehensive Plan of Action (JCPOA) with Iran and re-imposing sanctions lifted under the deal.

“It is clear to me that we cannot prevent Iran’s nuclear bomb. The Iran deal is defective at its core. Therefore, I am announcing today that the United States would withdraw from the Iran nuclear deal,” Trump said.

He also signed a fresh set of sanctions against Iran and warned countries against any cooperation with Tehran on its controversial nuclear weapons programme.

A statement issued by the White House said President Trump was terminating US participation in the JCPOA as it failed to protect America’s national security interests.

“Therefore, I am announcing today that the United States will withdraw from the Iran nuclear deal.” pic.twitter.com/hvnlrkJAQD

— The White House (@WhiteHouse) May 8, 2018

“The JCPOA enriched the Iranian regime and enabled its malign behavior, while at best delaying its ability to pursue nuclear weapons and allowing it to preserve nuclear research and development,” said the statement.

The President has directed his administration to immediately begin the process of re-imposing sanctions related to the JCPOA, which will target energy, petrochemical and financial sectors — critical to Iran’s economy.

The White House said those doing business in Iran would be given a window of time to wind down operations in that country or any business involving Iran.

“Those who fail to wind down such activities with Iran by the end of the period will risk severe consequences,” it warned.

The “disastrous” deal gave Iran millions in cash and did not prevent it from acquiring nuclear weapons, Trump said.

In reversing the signature foreign policy accomplishment of his predecessor Barack Obama, Trump took the decision ignoring advice against such a move from his key European allies and top US Democratic leaders.

Describing it a bad deal, Trump said the nuclear deal was unlikely to prevent Iran from acquiring nuclear weapons.

Before Trump’s announcement in this regard, which was televised live, top administration officials including Vice President Mike Pence informed Congress about his decision.

“The Iranian promise of abandoning its nuclear weapons is a lie,” Trump alleged.

Allowing the deal to stay would result in an arms race in the region, he said, adding that the deal does nothing to constrain Iran’s “destabilising behaviour”.

He had described the agreement, which was negotiated by then US secretary of state John Kerry, as a bad deal.

“Iran negotiated the JCPOA in bad faith, and the deal gave the Iranian regime too much in exchange for too little,” said White House.

The Iran nuclear deal was reached in Vienna in July 2015 between Iran and the P5 (the five permanent members of the UN Security Council) plus Germany and the European Union.

(With PTI inputs)