Saudi Arabia, Gulf Allies Join Israel in Backing US Iran Move

10 May, 2018, 11:26 | Author: Dustin Murphy

"The Secretary-General reminds all parties to the conflict that they must uphold global humanitarian law, including taking steps to protect civilians", said a statement issued on behalf of the Secretary-General, by his Spokesperson Stéphane Dujarric.

The agreement puts limits on Iran's nuclear program in exchange of the lifting of worldwide sanctions.

"We support and welcome the withdrawal of the United States from Iran nuclear deal, support the decision to reinstating economic sanctions on Iran, and continue to work with our partners to address the dangers", he said.

Saudi Arabia promised to work with other OPEC nations to "mitigate" the impact in the oil market of the U.S. exit from the Iran nuclear deal.

Asked if Riyadh would "build a bomb itself" if Tehran does so, Jubeir said: 'If Iran acquires nuclear capability we will do everything we can to do the same'.

"This was a awful one-sided deal that should have never, ever been made".

His comments came after Trump defied the wishes of the other parties to the nuclear deal - France, Britain, Germany, Russia and China - by announcing the USA would pull out of the accord and impose new sanctions on Tehran.

President Trump's decision yesterday to "nix" the Iran Nuclear Deal was reckless. The International Atomic Energy Agency has so far verified Iran's adherence to the deal.

Saudi Arabia, which is pumping just under 10 million barrels a day, has the capacity to produce 12.5 million over time.

Oil prices had been supported by expectations that Trump would pull out of the deal, which could hit Iranian crude exports and feed geopolitical tensions in the Middle East, home to one-third of the world's daily oil supply.

South Korea said on Wednesday it would seek US exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new USA sanctions on Tehran, which will tighten world oil markets and push up prices.

But a drop in Iranian exports due to a return of USA sanctions, plus involuntary supply losses in other OPEC members such as Venezuela, would mean the supply cut would be significantly larger than intended.

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.

German Chancellor Angela Merkel, British Prime Minister Theresa May, and French President Emmanuel Macron condemned Donald Trump's decision.



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