US President Donald Trump walked out of the Iran nuclear deal on Tuesday launching a scathing assault on its provisions, but offering no alternative policy in its place. The Joint Comprehensive Plan of Action (JCPOA) was signed on 14 July, 2015 by China, France, Germany, Russia, the UK, the US, European Union (EU) and Iran to ensure “Iran’s nuclear programme will be exclusively peaceful”.

Under the accord, Iran agreed to limit its sensitive nuclear activities and allow in international inspectors in return for the lifting of crippling economic sanctions. Now that Trump has decided to re-impose sanctions, it could lead to Iran pursuing nuclear weapons and the global oil market could tighten.