ZCZC
BCN-24
IRAN-OIL-MARKET-SAUDI-RUSSIA-US
Iran says oil market held “hostage” by Saudi Arabia, Russia
TEHRAN, Sept. 17, 2018 (BSS/Xinhua) – Saudi Arabia and Russia have held
“hostage” the oil market as the U.S. President Donald Trump seeks to impose
new sanctions on Iranian oil sales, senior Iranian energy official said on
Saturday.
“Russia and Saudi Arabia claim they seek to balance the global oil market,
but they are trying to take over a part of Iran’s share,” Iran’s governor of
the Organization of the Petroleum Exporting Countries, Hossein Kazempour
Ardebili, was quoted as saying by Tasnim news agency.
“Trump’s efforts to cut Iran’s access to the global crude market has
prompted Russia and Saudi Arabia to take hostage the oil market,” Kazempour
Ardebili said.
On Saturday, he accused Moscow and Riyadh of welcoming sanctions against
Iran for their own gain, and warned that such actions would damage the
credibility of OPEC, according to Tasnim.
Ardebili also said “Saudi Arabia and UAE are turning the OPEC into a U.S.
tool.”
U.S. sanctions on Iran snapped back on Aug. 6, a move after U.S.
withdrawal from the Iran nuclear deal on May 8. The sanctions would include
targeting Iran’s automotive sector, trade in gold, and other key metals.
The remaining sanctions will snap back on Nov. 4. These sanctions will
include targeting Iran’s energy sector and petroleum-related transactions,
and transactions with the Central Bank of Iran.
Washington’s withdrawal from the landmark Iran nuclear deal was criticized
across the world. Some of its major European allies have been working to
prevent the 2015 deal from falling apart.
BSS/XINHUA/HR/1450