Trump to Blame for Surge in Oil Prices: Iranian Envoy

TEHRAN (Tasnim) – Oil will soon cost $100 per barrel due to supply disruptions caused by US President Donald Trump, Iran’s OPEC Governor said, as he warned expectations that Saudi Arabia and Russia would help bring down prices were in vain.

Trump to Blame for Surge in Oil Prices: Iranian Envoy

Iranian OPEC Governor Hossein Kazempour Ardebili told Reuters on Thursday that Trump “should have expected” when blocking Iran’s access to the global markets that it would end up as “hostage (to) Saudi Arabia and Russia”, who he said had little vested interest in bringing down prices.

“The responsibility of paying unnecessary prices for oil by all consumers of the whole world, especially in US gas stations, is solely upon your (Trump’s) shoulders and the price of over $100 per barrel is yet to come,” he said.

“We are neighbors and will remain so, we know we can and we must live together. No one wants you (Trump) to protect anybody... You are fighting with everybody, Sir, since you came to office,” Kazempour Ardebili said.

Trump again accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher on Wednesday, and urged US allies such as Saudi Arabia to pump more if they wanted Washington to continue protecting them against their top foe Iran, according to the report.

Iran, OPEC’s third-largest producer, is facing US sanctions on its oil exports that are prompting some buyers to cut purchases.

Trump has been complaining about OPEC at the same time that Washington is piling pressure on its European allies to stop buying Iranian oil.

Iran has threatened to block oil exports through a key Gulf waterway in retaliation against any hostile US action.

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