Iran says Saudi Arabia and Russia have taken oil market 'hostage' - SHANA

FILE PHOTO: The national flags of Russia and Saudi Arabia are seen during a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producing countries in Vienna, Austria, May 25, 2017. REUTERS/Leonhard Foeger - Copyright LEONHARD FOEGER(Reuters)

By Reuters

Published on 15/09/2018 - 09:34•Updated 26/04/2024 - 16:46

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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.

(Reporting by Bozorgmehr Sharafedin; editing by Jason Neely)

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