Wednesday, 13 November, 2019

Oil Price Dropping Against Sanctions Relief on Iran

BY: Afrasiabi

According to an unknown source, Saudi Foreign Minister, Saud Al-Faisal, unexpectedly left Riyadh to Vienna with his own plane to meet with U.S. Secretary of State, John Kerry at a time when the nuclear talks between Iran and P5+1 were underway in Vienna in November 2014.

It stands to reason that this unofficial and unpredicted trip is owing to Saudi’s concerns regarding the procedure of nuclear talks and the probable compressive deal between Iran and P5+1 as well. 

As some people say, Saud Al-Faisal asked Kerry to left the talks fruitless but was replied that “Talks were completed and we no longer continue it or impose new sanctions on Iran. Everything is done to make a comprehensive deal.”

Apparently, during this visit, Saud Al-Faisal proposed a plan for oil prices dropping in return for lifting sanctions against Iran to put Islamic Republic under pressure.  

Saudi Arabia has been obsessed by one belief in which if Iran were to make a deal with P5+1, the Saudi’s position would get deteriorated in the region. Thus, it makes any attempts to obstruct the negotiations.

But, of course, this is a mistaken belief because Iran has always tried to make a good and cooperative relationship with its regional countries including Saudi Arabia.

It should be considered that oil price dropping not only has influenced on Iran’s economy but also it has made irreparable damages to multinational corporations as well as US economy such as share value’s falling of oil companies.

Further, it has to be noticed that the period of playing with oil price dropping has been over and Iran has some special and potential capacities which can be used, if the policy of oil price dropping continues.  

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