Saudi Arabia ready to ease oil concerns

May 10, 2018, 11:16

Asked whether Saudi Arabia would "build a bomb itself" if Iran resumes its nuclear weapons program, Al-Jubeir said: "If Iran acquires nuclear capability we will do everything we can to do the same".

Saudi Arabia, the United Arab Emirates (UAE) and Bahrain swiftly backed U.S. President Donald Trump's decision to reimpose sanctions on Iran. "It didn't bring calm, it didn't bring peace, and it never will". The original agreement had lifted sanctions in exchange for Tehran limiting its nuclear program.

"Following the US withdrawal from Iran (nuclear) deal, I would like to confirm our commitment to oil market stability for the benefit of producers & consumers", Falih wrote on his official twitter account.

"We have repeatedly said that Iran needs to seriously reconsider its approach if it truly wanted to establish good neighborly ties with Arab countries", he stated.

According to the same fact-checking website, although Israeli Prime Minister Benjamin Netanyahu presented a trove of documents, they did not add any new information - much of what he had offered was not news for the global community.

"At the end of the month there is an OPEC meeting and these matters will be on the negotiations table", Luaibi said in response to a question from reporters on whether Iraq would plug the gap in supply expected from the reintroduction of sanctions on Iran's oil sales.

The Trump administration kept the door open to negotiating another deal with allies, but it is far from clear whether the Europeans would pursue that option or be able to convince Iran to accept it. The JCPOA is in America's interest - it has significantly rolled back Iran's nuclear program. "There's an American withdrawal from the deal but the deal is still there", French Foreign Minister Jean-Yves Le Drian said.

On Monday, the Saudi-led coalition said it was behind two air raids on the office of the presidency in Yemen's rebel-held capital, which were reported to have killed six people and wounded dozens.

While both India and China have scope to lower their imports from Iran, they will likely be reluctant, especially given the ongoing dispute over pricing between China's top refiner Sinopec and Saudi Arabia.

"I don't think that returning to higher and higher levels of uranium enrichment would take long at all if Iran chose to do that... they would simply have to activate those systems", he said.

President Trump's decision yesterday to "nix" the Iran Nuclear Deal was reckless.

Chanting "death to America", most members of the Iranian parliament echoed Ayatollah's sentiment.

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