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Saudi Suggests "Squeezing" Iran over Nuclear Ambitions

(Wall Street Journal) Jay Solomon - A leading member of Saudi Arabia's royal family warned that Riyadh could seek to supplant Iran's oil exports if the country doesn't constrain its nuclear program, a move that could hobble Tehran's finances. "Iran is very vulnerable in the oil sector, and it is there that more could be done to squeeze the current government," said Saudi Prince Turki al-Faisal in closed-door remarks earlier this month. "Saudi Arabia has so much [spare] production capacity - nearly 4 million barrels [per] day - that we could almost instantly replace all of Iran's oil production," the prince said. He also strongly implied that Riyadh would be forced to follow suit if Tehran pushed ahead to develop nuclear weapons and said Saudi Arabia is preparing to employ all of its economic, diplomatic and security assets to confront Tehran's regional ambitions. "Saudi Arabia will oppose any and all of Iran's actions in other countries because it is Saudi Arabia's position that Iran has no right to meddle in other nations' internal affairs," he said. In recent weeks, Riyadh has pressured members of OPEC to increase production as a way to tamp down global oil prices, a move Iran has strongly opposed. OPEC officials in Vienna split into two blocs - one led by Riyadh and the other Tehran.
2011-06-22 00:00:00
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