US President Donald Trump declared on Tuesday that he was pulling out of the Iran nuclear deal, unraveling the signature foreign policy achievement of his predecessor, Barack Obama, and isolating the United States among its Western allies, NY Times reported.

"We will be instituting the highest level of economic sanctions. America will not be held hostage to nuclear blackmail," Trump  noted, adding that the Iranian regime is the leading state sponsor of terror. 

"In a few moments, I will sign a presidential memorandum to begin reinstating U.S. nuclear sanctions on the Iranian regime. We will be instituting the highest level of economic sanction. Any nation that helps Iran in its quest for nuclear weapons could also be strongly sanctioned by the United States," Trump stated in his speech.