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Page added on September 15, 2018
Iran OPEC chief: ‘Saudi and Russia are taking oil market hostage’
Iran‘s OPEC governor, Hossein Kazempour Ardebili, has accused fellow OPEC country Saudi Arabia and non-OPEC country Russia of taking the global oil market hostage.
Their actions are a direct result of attempts by the United States to cut Iran’s access to the global market off, he said.
“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,” Ardebili told Iran’s oil news agency SHANA.
“Trump’s efforts to cut Iran’s access to the global crude market has prompted Russia and Saudi Arabia to take the market hostage,” he added.
“The American bullish behaviour will certainly not end with Iran becoming another Venezuela, as it was not the case with Iraq and Kuwait.”
Ardebili went on and accused Saudi Arabia and the UAE of welcoming US sanctions on Iran for their own gain and claimed the organisation is losing its power.
“Saudi Arabia and UAE are turning the OPEC into a US tool,” he said.
“It is a fact that OPEC is losing its organisational character and is becoming a forum,” he added.
“Simply said, nobody is afraid of a toothless lion that growls from time to time, and it does not harm anyone.”
Iran is currently OPEC’s third-largest producer, but the US wants to cut its production down to zero by November as part of sanctions imposed on the country.
US officials are pressing allies in Europe, Asia and the Middle East, including Saudi Arabia, to adhere to the sanctions, which are aimed at pressuring Iran to negotiate a new agreement to halt its nuclear programme.
In June, India, the largest buyer of Iranian oil after China, said it expects to import less oil from Iran in the coming months because it wants to protect its exposure to the US financial system.
If Iran’s oil production does go down to zero, other countries like Saudi Arabia and Russia are expected to produce more to keep oil prices stable.
The US, led by President Donald Trump, has also pressured OPEC to raise output in an attempt to reduce oil prices in recent months,
Iran demanded the organisation reject calls from Trump for an increase in oil supply, arguing that the US has contributed to a recent rise in prices by imposing sanctions on Iran and fellow member Venezuela.
8 Comments on "Iran OPEC chief: ‘Saudi and Russia are taking oil market hostage’"
dissident on Sat, 15th Sep 2018 12:55 pm
Iran is its own worst enemy.
Perry was just in Moscow trying to convince Russia to increase oil exports to offset the embargo on Iranian oil. I am quite sure that Russia gave him the middle finger, that is why he launched into a bitter, lamer tirade about how Russia should stop using energy as a weapon. FOAD, nobody is forcing anyone to buy Russian oil and gas.
By contrast, the Saudis are America’s poodle protectorate and will do the bidding of Washington.
Maybe Russia should let Iran flap in the wind with the looming war against it. All their testicular trash talk will not save them.
Cloggie on Sat, 15th Sep 2018 1:08 pm
“Maybe Russia should let Iran flap in the wind with the looming war against it. All their testicular trash talk will not save them.”
In 2003 Russia, China and Europe were standing by during the rape of Iraq.
This time Russia and China won’t let the US destroy Iran but give proxy Iran any weapons necessary to defend itself, notably the most sophisticated anti-ship and anti-aircraft weapons they have in stock.
The US are in for a nasty surprise if they press ahead.
The extra Russian oil income won’t benefit the US, that’s for sure.
rockman on Sat, 15th Sep 2018 2:18 pm
An interesting acquisition from a country that willing joined OPEC. OPEC, the organization formed in an effort to control oil production volumes in an effort to exert some control over oil prices. Sounds like a member of a criminal gang upset when the rest of the gang cuts them out of their share of the loot. LOL
print baby print on Sat, 15th Sep 2018 2:28 pm
‘Saudi and Russia are taking oil market hostage’ and why shouldn’t they . America take whole world hostage with worthless toilet paper
Sissyfuss on Sat, 15th Sep 2018 4:17 pm
At least President Pollution is trying to lower Irans carbon footprint despite the fact that he has no idea what a carbon footprint is or could find Iran on a map. But you can be sure he will be practicing his art on every oil exporting country he can. Can’t afford to let the price of dead dinosaur sauce skyrocket before the midterms.
makati1 on Sat, 15th Sep 2018 7:53 pm
I see the Us invasion of Iran as the last nail in America’s coffin. Invest in body bags America. They will be coming home filled by the tens of thousands.
Davy on Sun, 16th Sep 2018 3:51 am
“I see the Us invasion of Iran as the last nail in America’s coffin.”
There will be no invasion of Iran by the US. It is not a military possibility under current circumstances. If any thinks there is an invasion in the works then show me how it could be done. There could be a air war with missiles and aircraft. This would be a regional conflict and still very devastating.
Sum on Mon, 17th Sep 2018 11:54 pm
Mullah’s got shafted again. How stupid dictators are.
https://en.radiofarda.com/a/layers-of-suppression-in-Islamic-republic-Iran/29437016.html