Gulf Arab states will suffer the consequences if they increase their production of crude to replace Iranian oil facing international embargo. Over the past weeks, European Union and United States have both taken steps towards a ban on Iranian oil; China has also become closer to Saudi Arabia, yet another sign of growing Iranian isolation.
“If (they) give the green light to replacing Iran’s oil these countries would be the main culprits for whatever happens in the region – including the Strait of Hormuz,” Mohammad Ali Khatibi, Iran’s OPEC Governor, said. “Our Arab neighbor countries should not cooperate with these (U.S. and European) adventurers… These measures will not be perceived as friendly.”
Reuters, United States