Saudi Arabia: “We Welcome the US Decision to Impose A Moratorium on Importing Oil from Iran”

The Saudi foreign minister welcomed the US decision to compel its allies to stop importing oil from Iran. “Saudi Arabia fully supports the move,” he said, “because it is necessary to force the Iranian regime to end its support of terrorism around the world.”

“Saudi Arabia and other OPEC countries will compensate for the gap in the flow of oil following the full sanctions on Iranian oil,” Trump said.

Trump referred to the previous government’s decisions on Iran and said: “Iran has received bad recommendations by John Kerry and US leaders to agree to the most difficult nuclear deal in Iran.”

Trump concluded at the end: “Is this a major violation of the Logan Law (a federal law that prohibits negotiations with hostile governments to the United States)?” Trump wondered.

Iran has already threatened to block the Strait of Hormuz, one of the world’s largest cruise liners, and said that Trump has no influence on the continuation of their business with European countries.

Washington threatened on Monday to impose sanctions on its allies from countries that will continue to import Iranian oil after announcing a moratorium on these countries’ continued access to Tehran. It said it was seeking to “deprive the Iranian regime of its basic source of income.” Ankara, which is among the countries covered by the suspension of the exemption, has rejected the threat, saying it will continue to supply Iranian oil.

The United States on Monday suspended a group of countries counting on its allies to comply with US sanctions against Iran. And warned against continuing to buy these countries Iranian oil, because it would be subject to sanctions from Washington.

“If you do not comply, there will be sanctions,” US Secretary of State Mike Pompeo said. “We are determined to implement these sanctions.”

A White House statement said President Donald Trump intended to ensure that “Iranian oil exports will be zero” and “deprive the regime of its primary source of income.”

As of May 2, the seven countries must stop buying Iranian oil altogether. This process will not be easy for India, which imports 10% of its oil needs from Iran, knowing that it is a strategic ally of the United States and the third largest importer of oil in the world.

Washington relies on Riyadh to preserve the balance of the world oil market. “The United States, Saudi Arabia and the United Arab Emirates, one of the biggest oil producers in the world, in cooperation with our friends and allies, will work to ensure that world oil markets remain adequately supplied,” the White House said in a statement on Monday.

Trump followed the statement by tweeting on Twitter in which he promised that Riyadh would work with other Opec countries “to do more than compensate” for the shortage of oil for sale at the end of the purchase of oil from Iran.

For its part, the Saudi government announced its readiness to work to keep the oil market stable, knowing that the price of a barrel of oil rose immediately after the leak of press information on the suspension of exceptions to the seven countries.

Turkey refuses to comply with the US decision

The response came quickly from Turkey, which said it would not respect sanctions on oil imports from Iran. “His country does not accept unilateral sanctions or dictates concerning the nature of the relations we have with our neighbors,” Foreign Minister  Mevlüt Çavuşoğlu was quoted as saying by state news agency Anatolia.

Çavuşoğlu warned that the US move to end the exemptions: “will not serve regional peace and stability.”

The United States imposed new sanctions, which wanted to be “the most difficult in history”, including Tehran to prevent the purchase of Iranian oil, and the group of a few of its allies for a few months, following the unilateral withdrawal of the nuclear agreement.

 

Reviewer overview

Saudi Arabia: "We welcome the US decision to impose a moratorium on importing oil from Iran" - /10

Summary

The Saudi foreign minister welcomed the US decision to compel its allies to stop importing oil from Iran. "Saudi Arabia fully supports the move," he said, "because it is necessary to force the Iranian regime to end its support of terrorism around the world."

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