US Potentially Sanctions Saudi Arabia Over OPEC Decision

Washington, MINA – The United States (US) is “reviewing” the consequences for Saudi Arabia and will potentially sanction following the OPEC+ decision to cut oil production.

“We made it clear that it was going in the wrong direction. On that basis alone, the impact will potentially be on sanctions but also because we are in a global economic recovery,” said Foreign Minister Antony Blinken as quoted by Anadolu Agency on Saturday.

Blinken noted that the Saudis had communicated to the US privately and publicly their intention to reduce oil production, which he said they knew would increase Russia’s revenues.

“We are facing the challenge of Covid-19 and also facing the challenge of the Russian question itself. And, so now, is not the time to take energy from the market for months now,” he added.

Earlier, the White House said the Saudi-led OPEC+ decision to dramatically cut global oil output amounted to “moral and military support” for Russia’s continued war against Ukraine.

Washington continues to be angry at Saudi Arabia for its support in the 2 million bpd cut.

Meanwhile, Saudi Arabia’s Foreign Minister, Adel Al-Jubeir, denied his country’s involvement with Russia in terms of exploiting world oil which the United States accused.

“Saudi Arabia is not siding with Russia.  Saudi Arabia is on the side of trying to ensure the stability of the oil market,” Al-Jubeir said, as quoted by CNN International.

Al-Jubeir emphasized that the OPEC+ oil production cuts were solely aimed at maintaining the stability of world oil prices.

“We don’t use oil as a weapon, we value oil as our commodity. Our goal is to bring [price] stability to the oil market,” Al-Jubeir said.

At the same time, Al-Jubeir denied that there was a political motive in the decision to reduce OPEC+ oil production.  He stressed the cuts were made to avoid major changes in oil prices.  (T/RE1)

Mi’raj News Agency (MINA)