LONDON (Reuters) – Iran’s OPEC governor said on Saturday that Saudi Arabia and Russia have taken the oil market “hostage” as U.S. President Donald Trump seeks to impose fresh sanctions on Tehran and reduce its oil sales to zero.
“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,” Hossein Kazempour Ardebili was quoted as saying by SHANA, the oil ministry’s news agency.
“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 said.
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