Saudi Arabia to build nuclear bomb if Iran does so: FM

10 May, 2018, 14:07 | Author: Gladys Mathis
  • Saudi Arabia to build nuclear bomb if Iran does so: FM

Saudi Arabia will seek to develop its own nuclear weapons if Iran does, Foreign Minister Adel al-Jubeir told CNN on Wednesday, amid spiraling tension between the regional rivals.

On Tuesday, U.S. President Donald Trump has announced that the United State would "exit the Iran deal", and warned that "any nation that helps Iran in its quest for nuclear weapons could be strongly sanctioned".

IOC, India's biggest refiner, hopes to stick to its plans to buy as much as 180,000 barrels per day (bpd) of oil from Iran in 2018/19, more than double the volume in the last fiscal year that ended in March, Sharma said. "And it doubled down on deploying cyberattacks against targets in the West and in Saudi Arabia, embracing a weapon that was not covered by the nuclear accord".

The kingdom is customarily coy about how it might respond but the prospective removal of Iranian crude from the market will send oil prices sharply higher unless other producers step up to fill the gap.

Worries over potential supply disruptions have already caused oil prices to spike. While the Gulf states may want to see the USA and Israel try to cut Iran to size, I don't think they want to get dragged into a direct confrontation themselves.

"But Mr. Trump's team dismisses that risk: Tehran doesn't have the economic strength to confront the United States, Israel and the Saudis".

Energy-rich Saudi Arabia, a fierce regional foe of Iran's, is already seeking United States help in starting a nuclear program of its own, giving rise to concerns that it might be trying to compete with Iran's nuclear program and create its own nuclear weapons program.

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For all these reasons, Saudi Arabia and other OPEC members will come under intense pressure to raise their output to make up for any loss of Iranian barrels.

But the USA request is more complicated this time.

Iran's regional foe Saudi Arabia said it "supports and welcomes" Trump's decision, while Riyadh's Gulf allies the UAE and Bahrain also backed the US.

"We have managed to put together this new alliance between OPEC and non-OPEC".

Noting tighter oil market conditions in recent months, the Paris-based agency - whose mandate is to safeguard global energy security - said it was monitoring the market situation.

OPEC next meets in June, and that meeting is no longer expected to be about rubber stamping the production agreement though year end.

Iran has, according to Politifact, largely complied with the 2015 deal. "Political interference will disrupt the process of development and exchange in the market".

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