War with Iran would gut world economy: Saudi crown prince

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Saudi Arabia’s crown prince said in an interview aired on Sunday that war with Iran would devastate the global economy and he prefers a non-military solution to tensions with his “If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests,” Saudi Crown Prince Mohammed bin Salman – known as MBS for short – told the CBS program “60 Minutes”.
“Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes,” the crown prince said.
MBS said a war between Saudi Arabia and Iran would be catastrophic for the world economy.
“The region represents about 30 per cent of the world’s energy supplies, about 20 per cent of global trade passages, about four per cent of the world GDP. Imagine all of these three things stop,” he said.
“This means a total collapse of the global economy, and not just Saudi Arabia or the Middle East countries.” MBS said a September 14 attack on Saudi oil facilities, which his country and the US blamed on Iran, had been senseless. “There is no strategic goal. Only a fool would attack five per cent of global supplies. AFP

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