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Saudi Arabia’s Engineered Oil Crash Targets Iran

21st Century Wire says…

While causing problems for the American Shale industry, the engineered crash has also had a parallel effect on the Iranians.

Saudi-Oil-Price
Richard Fisher of the Dallas Federal Reserve said that it is possible “King Abdullah thought to himself, I’ve also done a favor vis-a-vis Iran”. This is because Saudi Arabia is better able to weather the storm of low oil prices; due its status as a Swing State.

Don’t forget Iran is already suffering under international sanctions, so this continuing economic assault may lead to the return of hardliners in positions of power in Iran; something that may prove to have far-reaching consequences for the region.

Saudi Arabia’s recent loss of King Abdullah would have been an ideal time for change in the Kingdom, perhaps lessening their confrontational stance with Iran, but their policy direction has refused to budge.

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Saudi Arabia’s ‘engineered’ oil crisis to hurt Iran – Dallas Fed chief


Press TV

An official of the US Federal Reserve has accused Saudi Arabia of engineering the global oil price crisis to hurt its regional rival Iran.

Speaking at the Economic Club of New York on Wednesday, Richard Fisher, the head of the Dallas Federal Reserve, said that “the Saudis have engineered” the oil crisis.

Fisher said Riyadh benefits both economically and politically from the oil price decline.

He said Saudi Arabia is able to handle the sharp drop for a much longer period as its reserves are far larger than Iran’s…

Continue reading the full story on Press TV

READ MORE ON SAUDI ARABIA AT: 21st Century Wire Saudi Files