Saudis will seek nuclear weapon if Iran does

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A third, and perhaps the most serious, is that tensions in the Middle East will rise now. They've largely achieved that goal, but the Saudis - keen for higher prices - have insisted the curbs should continue to drive oil stockpiles even lower.

"If Europe turns to Chinese know-how to circumvent US sanctions, the United States might find that the country being isolated in this situation is not Iran after all, but itself", the Post said.

The head of the Saudi Ministry of foreign Affairs approved the decision of President Donald trump to withdraw from nuclear agreement with Iran.

Since the sanctions were lifted in 2016, major European companies, partly wary of the remaining US sanctions on Iran, have been reluctant to do business with Tehran, which needs to attract over $100 billion in foreign investment to boost its crude output.

The immediate impact of the sanctions on Iran itself may be mitigated by its ability to keep selling oil to China, a signatory to the nuclear deal, and to India.

Netanyahu actively sought to scuttle the deal from the start, even when it was still being brokered. Netanyahu warns Iran will use its troops and weaponry there to threaten Israel.

Exports of German goods to Iran rose by around 400 million euros to 3 billion euros. "Better now than later", he said this week at a Cabinet meeting. European leaders had tried, but failed, in recent weeks to convince Trump to stick with the Iran deal, with the leaders of both Germany and France visiting Washington last week.

That could change if the deal breaks down.

Iranian officials are putting on a fearless face.

Trump may opt to end all the waivers or just some of them; he may also extend some or all. Iran's desperate pleas went unheard among the worldwide community. United Nations inspectors have repeatedly confirmed that Iran is abiding by the accord's terms.

French exports to Iran doubled to 1.5 billion euros ($1.79 billion) previous year, driven by sales of aircraft and automobile parts, according to customs data.

That policy may falter in the wake of Trump's Iran sanctions.

The US and its allies can not limit Iran's right to self-defense; Tehran is not developing missiles as weapons of mass destruction, according to the government.

Last month, Pompeo said during a visit to North Atlantic Treaty Organisation in Brussels that Trump "has been clear - absent a substantial fix, absent overcoming the shortcomings, the flaws of the deal - he is unlikely to stay in that deal past this May". He did not say which countries, but Saudi Arabia has the greatest spare production capacity.

"And I will get that sorted out, we're in very close consultation already with our European allies".

Riyadh accuses Tehran of supplying the Houthi militants in Yemen with ballistic missiles, which are being fired at the Kingdom. It has played a major role in protecting Syrian President Bashar al-Assad from the armed uprising since 2011.

"Iran will destabilise Iraq further for the sake of retaliating against Washington, and the ultimate losers in all this chaos will be the Iraqi people - whose country will remain a useful hub for Iranian expansionism throughout the region", Abdulrazaq added.

"We believe the nuclear deal was flawed", Jubeir said.

Israel, meanwhile, continues to try and build global pressure against Iran.

The IMF was expecting Iran's economy to grow by 4.3% this year and by 4.5% in 2019.

"The Prime Minister and the president condemned the Iranian rocket attacks against Israeli forces earlier this week, and strongly supported Israel's right to defend itself against Iranian aggression". Alstom SA signed a memorandum of understanding in 2017 to build metro and suburban rail cars in Iran, but the effort has gone nowhere and the company says it now has no projects in the country.