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Rejecting the Iran deal will be high-cost, Jack Lew writes in the NYT

U.S. Secretary of State John Kerry (L) holds a negotiation meeting with Iran's Foreign Minister Mohammad Javad Zarif (R) over Iran's nuclear programme in Lausanne, Switzerland.
Brian Snyder | Reuters
U.S. Secretary of State John Kerry (L) holds a negotiation meeting with Iran's Foreign Minister Mohammad Javad Zarif (R) over Iran's nuclear programme in Lausanne, Switzerland.

The Iran nuclear deal offers a long-term solution to one of the most urgent threats in modern times, U.S. Treasury Secretary Jacob Lew has said in an opinion piece for The New York Times (NYT).

Iran, the world's leading state sponsor of terrorism, would be less than 90 days away from having enough fissile material to create a nuclear bomb, should Congress decide to reject the deal, he warned - a rejection that would put the U.S. at odds with the rest of the world.

Rejecting the opinion of countries involved in the Iran talks, which include China, Japan, India and South Korea, as well as the European Union, and unilaterally introducing tougher Iran sanctions would result in cutting off those allies from the U.S. dollar and financial system.

"We would set off extensive financial hemorrhaging, not just in our partner countries but in the United States as well," Lew wrote.

To read the full NYT story, click here.