"Despite my strong inclination, I have not yet withdrawn the United States from the Iran nuclear deal. Instead, I have outlined two possible paths forward: either fix the deal's disastrous flaws, or the United States will withdraw", read a statement.
"I am waiving the application of certain nuclear sanctions, but only in order to secure our European allies' agreement to fix the terrible flaws of the Iran nuclear deal. This is a last chance", he added.
The senior officials of the Trump administration also said that to keep up the U.S. in the nuclear agreement in the future, Washington would coerce his European partners to agree to impose new conditions on Iran.
"The president will also make clear that this is the last such waiver he will issue. He intends to work with our European partners on some kind of follow-on agreement that enshrines certain triggers that the Iranian regime cannot exceed related to ballistic missiles, related to nuclear breakout period ... to inspection and that would have no sunset clause", said an administration official.
The US president also slapped new sanctions against 14 individuals and entities for allegedly committing human rights abuses or supporting the country's ballistic missile programmes.
As per reports, Trump agreed to waive sanctions at the urging of his top national security and foreign policy advisers, including Secretary of State Rex Tillerson and national security adviser H.R. McMaster.
Earlier in October, Trump has threatened to terminate the 2015 Iran nuclear deal if Congress and US allies fail to amend the agreement by fixing serious flaws in significant ways. (ANI)