Saudi Arabia may begin making investments in Iran “in a short time” after they agreed to revive diplomatic ties, the Saudi finance minister stated on Wednesday, regardless of sweeping US sanctions towards Tehran.
Mohammed Al Jadaan stated there have been “quite a lot of alternatives” in Iran and that he couldn’t see any purpose to forestall investments from going down between the 2 Gulf heavyweights.
“I’d say shortly,” he advised the Monetary Sector Convention in Riyadh, when requested how quickly Saudi Arabia may begin making “vital” investments in Iran. “When individuals actually stick with the rules of what was agreed, I believe that would occur in a short time.”
In a shock, Chinese language-brokered announcement on Friday, Saudi Arabia and Iran agreed to work in direction of restoring ties and reopening diplomatic missions inside two months.
The oil-rich rivals, who’re on opposing sides in conflicts throughout the Center East, severed relations in 2016 after Saudi Arabia executed a non secular chief, triggering violent protests.