Saudi adviser: Sanctions unlikely to stop Iran exports completely

A tug boat moves cargo towards the Strait of Hormuz, in Musandam province, Oman, July 20, 2018. (REUTERS)
Updated 29 August 2018

Saudi adviser: Sanctions unlikely to stop Iran exports completely

  • If Iran closes Strait of Hormuz, the UN Security Council is likely to authorize military action

STAVAGNER, NORWAY: Current US sanctions on Iran are unlikely to stop Iranian oil exports completely, a long-time adviser at Saudi Arabia’s Energy Ministry said on Tuesday, adding Iran would be unable to close the straits of Hormuz and Bab Al-Mandab even partially.
Speaking at an oil conference in the Norwegian city of Stavanger, Ibrahim Al-Muhanna said Iran would be the first to lose out on a move to block those major shipping routes and that any such action would trigger further sanctions on Iran.
Iran has said if it cannot sell its oil due to US pressure, then no other regional country will be allowed to do so either, threatening to block the Strait of Hormuz.
“The amount of oil going through the Strait of Hormuz is so large. There’s more than 18 million barrels a day, about two-thirds of world maritime oil trade. Meaning, cutting oil from there will lead to an acute oil shortage and prices will skyrocket,” Muhanna said.
“Is Iran able or willing to close completely, or even partially, the Strait of Hormuz or Bab Al-Mandab, or both? The answer is no, and a really big no ... Current sanctions are unlikely to stop Iranian exports completely.”
He said if Iran closes Strait of Hormuz, the UN Security Council is likely to authorize military action.
Earlier on Monday, Iran went to the UN highest court in a bid to have US sanctions lifted, calling the US move "naked economic aggression."
Iran filed the case with the International Court of Justice in July, claiming that sanctions the Trump administration imposed on May 8 breach a 1955 bilateral agreement known as the Treaty of Amity that regulates economic and consular ties between the two countries.
At hearings at The Hague, Tehran asked judges at the world court to urgently suspend the sanctions to protect Iranian interests while the case challenging their legality is being heard — a process that can take years.
US Secretary of State Mike Pompeo called the legal move an attempt by Tehran "to interfere with the sovereign rights of the US to take lawful actions, including re-imposition of sanctions.
US President Donald Trump pulled out of a 2015 pact between Iran and major world powers under which sanctions were lifted in return for Tehran accepting curbs on its nuclear program. The Trump administration then announced unilateral plans to restore sanctions against Tehran.


Lebanese lawmakers to defy naming of new PM

Updated 07 December 2019

Lebanese lawmakers to defy naming of new PM

  • Saad Hariri submitted the resignation of his government on Oct. 29 as a result of ongoing mass protests against corruption

BEIRUT: Three lawmakers and members of Lebanese President Michel Aoun’s parliamentary bloc will not abide by its decision to name a new prime minister on Monday. 

Meanwhile, activists in the civil movement are holding meetings to announce a general strike and the blocking of roads on Monday in protest over reports that the new government will not include technocrats.

Samir Al-Khatib is considered the most favored candidate after preliminary consultations conducted by Aoun with his allies prior to setting the date for binding parliamentary consultations to nominate a Sunni prime minister, as required by the Lebanese constitution.

Prime Minister Saad Hariri submitted the resignation of his government on Oct. 29 as a result of ongoing mass protests against corruption. He later said he would not agree to head a new government unless it consisted of technocrats.

Lawmaker Neemat Frem urged citizens to provide him with the name of their favorite candidate to head the new government, “for you are the primary source of authority, and it is my duty to convey your voice in the binding parliamentary consultations.”

Lawmaker Chamel Roukoz said he will not nominate anyone for the position of prime minister.

Lawmaker Michel Daher declared his intention to boycott the parliamentary consultations if Al-Khatib is the only candidate.

Aoun assured a delegation of British financial and investment institutions, and US bank Morgan Stanley, that binding parliamentary consultations will take place on Monday to form a new government, which will help Lebanon’s friends launch agreed-to development projects.

“The new government’s priority will be to address the economic and financial conditions as soon as it is formed,” he said.

HIGHLIGHT

Samir Al-Khatib is considered the most favored candidate after preliminary consultations conducted by Aoun with his allies prior to setting the date for binding parliamentary consultations to nominate a Sunni prime minister, as required by the Lebanese constitution.

On Friday, Hariri sent letters to the leaders of a number of countries with good relations with Lebanon. 

He asked them to help Lebanon secure credit to import goods from these countries, in order to ensure food security and availability of raw materials for production in various sectors.

His media office said the move “is part of his efforts to address the shortage of financial liquidity, and to secure procuring the basic import requirements for citizens.”

Among the leaders Hariri wrote to are Saudi Arabia’s King Salman; the presidents of France, Russia, Egypt and Turkey; the prime ministers of China and Italy; and the US secretary of state.

On Dec. 11, Paris is due to host a meeting of the International Support Group for Lebanon. Reuters quoted a European source as saying: “France has already sent invitations to attend the group meeting.”

Protesters continued their sit-ins in front of government institutions in Nabatieh, Zahle and Saida.

In Tripoli, protesters blocked the city’s main roads, which were eventually reopened by the army.

In Akkar, protesters raided public institutions and called for an “independent government that fights corruption, restores looted funds, and rescues the economic situation and living conditions from total collapse.”

Lebanese designer Robert Abi Nader canceled a fashion show that was due to be organized in Downtown Beirut, where protesters are gathering. 

Abi Nader said he intended through his show to express support for the protests by designing a special outfit called “the bride of the revolution,” and revenues were to be dedicated to families in need.