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Saudi’s Warn Trump Not To Stop Oil Imports

Saudi Arabia has warned US president-elect Donald Trump of the consequences should he decide to stick to his election promise to block oil imports from the Kingdom. During his campaign, Trump had vowed to secure the US energy sector’s independence from “our foes and the oil cartels” and to create “complete American energy independence.” But according to the Saudi’s, Donald Trump would jeopardize the global economy if he blocks Middle East oil imports for the purpose of creating an energy independent United States. They say that Trump should be careful before making such a drastic decision. “At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy,” Saudi Energy Minister Khalid al-Falih told the Financial Times. Press TV reports: Saudi Arabia is the Organization of Petroleum Exporting Countries’ (OPEC) biggest oil producer and the largest Middle Eastern oil supplier to the US, most of whose oil imports come from domestic production or are procured from Canada. “The US is sort of the flag-bearer for capitalism and free markets,” said Falih, adding, “The US continues to be a very important part of a global industry that is interconnected, that […]

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