TEHRAN (IFP) - An Arab news website says the U.S. President’s bid to halt Iran’s oil exports are mainly aimed at salvaging Saudi Arabia’s sluggish economy.
That was the analysis offered by thenewkhalij.news regarding Trump’s new policy geared to bringing Iran’s oil sales to zero.
The website wrote that the Trump administration seems to be trying to raise the chances of Iran’s rival, i.e. Saudi Arabia, by imposing an oil blockade on Iran, so that Riyadh would have the upper hand in the region.
Based on this report, Saudi Crown Prince Mohammed Bin Salman intends to increase petroleum output to 11 million barrels per day to seize Iran’s share of the global market.
According to the news website, the rise in crude output by Saudi Arabia, which has been coupled with a drop in crude prices and austerity measures over the past years, could be a ray of hope to save the country’s economy and be an opportunity for Bin Salman to implement his reforms.
However, added the website, Trump’s key objective is to give Saudi Arabia an economic edge which would weaken Iran’s nuclear and military programs in the region as well.
Trump withdrew from the Iran nuclear deal and reinstated sanctions against the country at the request of Saudi Arabia, Israel and other enemies of Iran, wrote the website.
By exerting economic pressure on Iran, Trump also seeks to make the country give up its arms programs and contain Iran’s allies which are a threat to Tel Aviv and Riyadh, thenewkhalij.news added.
The Saudi heir to the throne had earlier told Wall Street Journal that the world has turned to economic pressure in order not to get involved in a direct military war with Iran.
Saudi Arabia’s oil production is expected to reach 10.8 to 10.9 million barrels per day by July.