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March 29
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The world community must take decisive steps to deter Iran in order to prevent further escalation, which could result in an unprecedented jump in oil prices, the Crown Prince of Saudi Arabia, Mohammad Bin Salman Al Saud said.

“If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests. Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes,” Prince Mohammed said in an interview with CBS on Sunday evening. 

According to Prince Mohammed, he hoped that a military response could be avoided, and warned that war between the two countries would have devastating consequences far beyond Saudi Arabia, FT reported

“The region represents about 30 per cent of the world’s energy supplies, about 20 per cent of global trade passages, about 4 per cent of the world GDP. Imagine all of these three things stop,” he said adding that this means a total collapse of the global economy, and not just Saudi Arabia or the Middle East countries.

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