An impending US decision on whether to effectively end its participation in the Iran nuclear deal dominated the world media stage Monday, and President Trump heightened the drama by tweeting that he would make his decision Tuesday, rather than wait for a May 12 deadline.
I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm.
— Donald J. Trump (@realDonaldTrump) May 7, 2018
Trump’s announcement only added to a sense of uncertain anticipation that was multi-faceted and international.
A Washington Post piece focused on the effect a decision by President Trump to pull out of the deal would have on world oil prices. Speculation about a US pullout has already roiled Iran’s economy and world oil markets, with the Iranian rial losing one-third of its value since December, the Post reported. Meanwhile, oil prices topped $70 a barrel for the first time since 2014, and one investment bank estimated that if the United States reimposed sanctions and pulled out of the Iran nuclear deal, world oil prices could rise another 10 percent or so.
Meanwhile, British Foreign Secretary Boris Johnson was in Washington for talks with the administration and for a variety of media appearances that aimed to persuade Trump not to scuttle the Iran deal.
Over the weekend, Iranian President Hassan Rouhani said the United States would experience “historic regret” if it pulled out out of the nuclear agreement among six world powers and Iran. Then on Monday, he also said that if Iran gets what it wants from a continuation of the nuclear pact, it could survive without the “mischievous presence” of the United States.
But as is so often the case in this administration, a presidential tweet then took over the world news cycle.