Ramaphosa concerned over Trump's withdrawal from Iran nuclear deal

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While Tehran's regional rivals Saudi Arabia and Israel applauded Trump's decision to pull Washington out of the 2015 accord, Iran reacted furiously to the move, with lawmakers burning a United States flag and chanting "Death to America".

"Mr. Trump I tell you on behalf of the Iranian nation: You are making a damn mistake", the Leader said.

In the most severe breakdown of relations between the two countries since they signed the Obama-era accord in 2015, Ayatollah Ali Khamenei threw down the gauntlet to Trump.

President Trump's announcement that he will withdraw the United States from the Iran nuclear deal sent crude oil prices up slightly.

"Trump's delusion should worry us all".

"With a national consensus, we will give the USA and Zionists a response that they will regret", he said, according to the semi-official Mehr news agency.

The Vienna-based IAEA was tasked with monitoring and verifying Iran's adherence to the 2015 deal with six world powers. Other nations that do business with Iran also could face USA sanctions. The prospect of free access to global oil markets and accelerating flows of trade and investment were among the carrots that persuaded the Islamic Republic's leaders to sign up to an agreement capping its nuclear program. They prefer a tougher approach, the kind Trump is taking. All the deals are dependent on US licenses because of the heavy use of USA parts in commercial planes.

China regrets the USA decision to leave the Iran nuclear deal (JCPOA) signed in 2015, according to Foreign Ministry spokesperson Geng Shuang Wednesday.

Meanwhile, marine insurer The Meco Group said: "We need clarity before we comment further, but we understand that 90- and 180 -day wind-down provisions have been agreed by the US Treasury Department, so there is at least breathing space whilst the situation unfolds".

The Iranian rial is already trading on the black market at 66,000 to the dollar, despite a government-set rate of 42,000 rials.

The US withdrawal from the deal and inevitable implementation of new sanctions will prompt Iran to declare the agreement breached and withdraw from it as well.

While Iran's arch foes Israel and Saudi Arabia welcomed Trump's decision, other signatories to the existing deal - Russia, China and the European Union - vowed to stick by it.

Macron, who in recent weeks made a deliberately public effort to talk Trump around, said in an interview with German media that it was vital for the deal's other parties to reaffirm their commitment.

Meanwhile, the newly appointed US ambassador to Germany, Richard Grenell, advised German companies doing business with Iran to "wind down operations immediately" in a post on Twitter.

Elsewhere in his remarks, Larijani said the Iranian people are required to stand together in the face of the "greedy, covetous and unscrupulous" enemy. "They've got to understand life because I don't think they do understand life".

Reformist daily Etemad welcomed a "nuclear deal without the trouble-maker" and reprinted a tweet from Rouhani saying: "We have been freed from the evil of someone who does not respect their commitments".