Revise Iran nuclear deal: Arab League

A Saudi woman practices driving in Riyadh on April 29 ahead of the lifting of a ban in June. Yousef Doubisi  AFP

A Saudi woman practices driving in Riyadh on April 29 ahead of the lifting of a ban in June. Yousef Doubisi  AFP

In an interview in mid-March, Saudi Crown Prince Mohammed bin Salman warned: "Without a doubt, if Iran developed a nuclear bomb, we will follow suit as soon as possible".

The oil price rose on Thursday and was set for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Iran in the face of US sanctions.

"Following the US decision to withdraw from the nuclear agreement with Iran, Saudi Arabia is committed to supporting the stability of oil markets for the benefit of producers and consumers and the sustainability of the global economic growth", the official said.

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

CNN host Wolf Blitzer asked, "What will Saudi Arabia do?"

Jubeir's renewed vow came after US President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.

Italian Elia Viviani secures second consecutive stage win in Giro D'Italia
Ryan Mullen and Nicolas Roche both finished in the peloton in the same time as the stage victor . From Cervinia, the Giro will move on May 27th to Rome for the 21 and last stage.

The oil price is at its highest since late 2014 and is on track for its fourth consecutive quarterly gain, the longest such stretch for over 10 years.

As Politifact noted, President Trump has repeatedly criticized the deal - during the presidential campaign and while president of the United States - so the decision to leave the agreement does not come as a surprise. Preventing the two countries from having a nuclear-weapon capability and competing in a nuclear arms race is the goal. The International Atomic Energy Agency has so far verified Iran's adherence to the deal.

Washington's allies may find formulas to avoid sanctions exposure. The JCPOA is in America's interest - it has significantly rolled back Iran's nuclear program. Tehran's regional rival Saudi Arabia quickly moved in to reassure the global oil market to compensate any shortage in supply on the account of lower oil sales by sanction-hit Iran.

But Saudi Arabia has enough oil production capacity - now at 12 million barrels per day (bpd) - to maintain oil market stability, the source added.

Riyadh, which leads a regional coalition that meddling in Yemen's civil war to fight the Houthis, accuses Iran of supplying the militia with ballistic missiles.

A ballistic missile launched by pro-Iranian Yemeni Houthi rebels was intercepted on its way to the capital Riyadh, Saudi media, including the website of Arab News, reported on Wednesday.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.