Iran's supreme leader Ayatollah Ali Khamenei on Wednesday that Tehran would quit the landmark 2015 nuclear deal unless European signatories offered solid guarantees that trade relations would continue even after the United States' withdrawal from the pact.
Riyadh's statement, which came less than an hour after Mr Trump's decision, said it "supports and welcomes" the U.S. decision.
Khamenei, the highest authority in Iran, reluctantly gave his backing for the Iran nuclear deal and has publicly criticized the USA multiple times for not following through on its promises under the agreement.
"We will continue to work alongside our allies and partners to ensure that Iran can never acquire a nuclear weapon, and will work with others to address the range of Iran's malign influence", Mattis told a Senate panel.
Iran is one of the world's largest oil producers, and the export of oil and gas is worth billions of dollars each year.
Flake, a retiring senator who has been one of his party's most vociferous critics of Trump, told CNN's Jake Tapper the president should not have let his campaign rhetoric control his policies as president.
French President Emmanuel Macron, according to France's foreign minister, would speak later in the day to Iranian counterpart Hassan Rouhani regarding the future of the nuclear deal. The rest of the global community will work around the United States, and the United States will have declining influence.
"There are areas beyond the (nuclear) accord that we must talk about", she said.
While the United States has debated the JCPOA, Iran has advanced in Syria, Yemen, and elsewhere with little resistance, and prospects for war between Iran and Israel, or Iran and Saudi Arabia, have increased significantly.
U.S. Treasury Secretary Steve Mnuchin said he was revoking the licenses not only for the sale of hundreds of passenger planes to Iran by the U.S. aircraft giant Boeing, but by Europe's Airbus plane manufacturer as well.
The agreement saw worldwide sanctions on Tehran lifted in exchange for Iran curbing its controversial nuclear program.
"With all of the places they're involved, it's bedlam and death and we can't allow that to happen", he said, adding: "They've gotta understand life".
"The nuclear non-proliferation regime is at stake". Trump has repeatedly pointed to those omissions in referring to the accord as the "worst deal ever".