Saudis will seek nuclear weapon if Iran does, minister tells CNN

Coalition airstrikes hit a government building in the densely-populated Tahrir district of the capital on Monday, reportedly killing six people, and rebels fired several missiles in the days that followed towards different targets in Saudi Arabia. Oman and Kuwait also gave circumspect positions. The original 2015 agreement had lifted sanctions in exchange for Tehran limiting its nuclear programme.

The same source went on to add that Saudi Arabia will not fill the gap on its own, but is working on possible solutions with the United Arab Emirates (the UAE is the current holder of the OPEC presidency for 2018) and Russian Federation (as a party to the agreement between OPEC and non-OPEC oil producers).

The recent upswing in prices - which has almost tripled crude values from lows hit in early 2016 - has led to speculation that the output curbs will soon be lifted as countries reliant on oil revenue seek to boost their coffers by raising their exports.

Adel Al-Jubeir, speaking to CNN, said Saudi Arabia would seek to develop its own nuclear weapons capacity should Iran do the same.

Qatar, alienated by a Saudi-led boycott, said priority must be given to non-proliferation and preventing a nuclear arms race.

China's foreign ministry said Beijing would defend the deal and urged parties "to assume a responsible attitude".

Dubai, whose volume of trade of trade with Iran is in the billions of dollars, saw its stock market dip a noteworthy two percent. "Those doing business in Iran will be provided a period of time to allow them to wind down operations in or business involving Iran", President Trump said.

Anxious Gulf states will be closely monitoring the Russian, Chinese and European response to the U.S. financial gauntlet in the coming weeks and months.

However, since Trump's announcement, Iran has threatened to gather uranium if negotations fail in response to the U.S. withdrawal from the agreement.

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As a practical matter, only Saudi Arabia, the United Arab Emirates, Kuwait, Russia and the United States have the ability to raise production and exports in the short term.

The outlines of that agreement remain unclear, and may not be entirely clear to Washington and Riyadh, but the understanding is vital to the successful implementation of sanctions.

"The deal has been structured in a way that it is shielded from any potential liability or prosecution under the American sanctions", said an Omani analyst, who declined to be named due to the sensitivity of the subject. At the core of the USA sanctions is a threat to cut-off companies that deal with Iran or its companies from the U.S. banking system.

The Kingdom of Bahrain has also supported the decision of Trump. The JCPOA is in America's interest - it has significantly rolled back Iran's nuclear program.

The comments came as the United Nations nuclear watchdog confirmed that Iran is implementing "nuclear-related commitments" under its deal with world powers.

He stated that Iran must "cease providing ballistic missiles to terrorist organizations, like so-called Hezbollah and the Houthis".

Saudi Arabia has threatened to build a nuclear weapon if Iran pursued such a weapon of mass destruction, in the wake of a USA exit from a historic nuclear deal.

"The recent Arab summits in Jordan and Saudi Arabia were clear in expressing the extreme exasperation from Iran's actions in the Arab region and in calling for the need to alter this behavior", Abul Gheit continued.

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