Saudi Arabia Wants Nuclear Weapon If Iran Acquires One, Minister Says

Colourful and oozing defiance a sports-friendly version of the abaya gown was once considered a symbol of cultural rebellion in conservative Saudi Arabia but it is

Iranian officials warned the USA against the move, saying the deal won't work without it, despite European Union efforts.

The oil price rose on Thursday and was set for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Iran in the face of USA sanctions.

Saudi Arabia applauded Trump's announcement, but said it would seek to develop its own nuclear weapons if Iran does.

The Egyptian Foreign Ministry also said Iran must abide by its commitments under the separate nuclear Non-Proliferation Treaty "in a way that will ensure that Iran remains a country free of nuclear weapons".

Saudi Arabia has already promised to "mitigate" the impact of any potential supply shortages, in conjunction with other suppliers and consumer countries, in a statement released immediately after the sanctions decision.

At an Arab League summit last month hosted by Saudi Arabia, the country's King Salman said the regional body agreed to "renew our strong condemnation of Iran's terrorist acts in the Arab region and reject its blatant interference in the affairs of Arab countries".

While Gulf petro-states stand to benefit from a rise in prices, the U.S. move could mean new fissures in the region.

Kuwait said in a statement that it "understands and respects" Trump's decision.

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Jubeir's renewed vow came after US President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.

Middle East analyst James Dorsey, a senior fellow at Singapore's S. Rajaratnam School of International Studies, said any economic showdown will force Gulf states to weigh their responses.

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.

This source had also said the impact of US sanctions on Iranian supplies needed to be assessed first and Saudi Arabia did not expect any physical impact on the market until the third or fourth quarters. 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.

Riyadh, which leads a regional coalition that intervened in Yemen's civil war to fight the Huthis, accuses Iran of supplying the militia with ballistic missiles.

Trump said Tuesday said he was ready to work on a new nuclear accord, one that would also curb Iran's missile programme.

Saudi Arabia and its Gulf allies have given high praise for Washington's decision to withdraw from the global nuclear accord with Iran.

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