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    Oil, Saudi Arabia and Israel Lose Most From Iran Nuclear Deal

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    Iran's Nuclear Program Amid Western Sanctions (551)
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    The Iran nuclear agreement may deal a severe blow to Israeli and Saudi Arabia's positions in the Middle East; meanwhile the Brent crude has plummeted by 5 percent over the Iran nuclear deal.

    While international observers are praising the Iran nuclear deal as "historic" and "impressive," not everything is rosy in the garden for Saudi Arabia and Israel, Tehran's longstanding rivals in the region; at the same time energy markets have reacted to the news with a 5 percent slide in Brent crude.

    "From an economic perspective, any agreement between Iran and the West would certainly lead to the lifting of sanctions on Iranian oil exports that are estimated at between one and 1.5 million barrels a day," emphasized Nasser Ahmed Bin Ghaith, an expert from the United Arab Emirates, adding that the Iranian cheap oil is likely to flood the already saturated market resulting in a continued plunge in oil prices.

    Iran's natural gas resources are large and Tehran possesses the world's second-largest gas reserves after Russia.

    The Iran nuclear deal would improve Tehran's economic situation, allowing Iranian authorities to increase their influence over weak Middle Eastern governments, particularly, Lebanon, Iraq and Yemen, Saudi researcher Mansour al-Bogami noted.

    On the other hand, the deal will only last 15 years and that means it will not destroy Iran's technical capabilities of reviving its nuclear program, he said, adding that both results would obviously strengthen Tehran and its allies in the Middle Eastern region.

    Meanwhile, Israeli Prime Minister Benjamin Netanyahu has slammed the Iran nuclear deal as "a naive capitulation" of the West. Netanyahu claimed that the agreement would legitimize Iran's nuclear program, boost its economy and so far bolster Tehran's "aggression and terror" throughout the Middle Eastern region.

    The Israeli prime minister, a vocal critic of Iran's nuclear program, demanded that the nuclear deal with Iran contain a condition of Iranian recognition of Israel's right to exist.

    It is worth mentioning that other Israeli politicians, including Netanyahu opponents, also expressed concerns regarding the deal. Jerusalem fears that Tehran could bolster its influence in the region and strengthen its allies in Iraq, Syria, and Lebanon, including Hezbollah, one of the most powerful regional militant groups opposing Israel.

    At the same time a nuclear Iran is seen by Israeli policy makers as some sort of existential threat to their country.

    Iran's Nuclear Program Amid Western Sanctions (551)


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