The lifting of sanctions against the Saudis’ longtime enemy,in portion pursued by its US ally, is the latest episode in a centuries-customary narrative of mistrust Saudi Arabia has never formally objected to the international deal restricting Iran’s nuclear programme and ending sanctions. But it watched with anxiety and irritation as Barack Obama pursued the historic agreement, and complaining of the appeasement of an untrustworthy enemy at the expense of a loyal American ally.
Billions of dollars were wiped off Saudi and other Gulf stocks the moment the Islamic republic returned to world oil markets – at time when low prices are taking a heavy toll on the Saudis and forcing them to undertake unprecedented economic reforms. Their larger fear is that Iran,flush with unusual revenues, will be emboldened to heighten its activities across an already violent and unstable Middle East.
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Source: theguardian.com