Cairo / Tehran: Saudi Arabia has decided to halt oil supplies to Egypt indefinitely. The decision, taken on basis of the prevailing Syria conflict has resulted in escalation of tension between the two countries. It is said that Egyptian economy, which is already in a bad shape will further suffer due to this. Reports claim that Egypt’s fuel minister paid a visit to Iran after this development.
Saudi Aramco, which is a leading oil company in Saudi Arabia, has stopped the supply to Egypt. Spokesperson of Egypt Oil Ministry has confirmed this and added that no reason has been communicated for this.
As per a deal between Saudi Arabia and Egypt earlier in April this year, the former had agreed to provide 7 lakh tonnes of fuel to Egypt every month. It was agreed that the oil supply would be unhalted for 5 years. However in October, this supply was brought to a halt. It was also reported that the supply would not be done in November too. Neither the Saudi government nor ‘Saudi Aramco’ has given any explanation or clarification for this.
Egypt had supported UN resolution on Syria in the United Nations Security Council, while Saudi had opposed it. It is said that this may be the cause of the halting of oil supply. Earlier, financial aid to Egypt was also stopped by Saudi Arabia, reports say.
It is speculated that after this sudden turn of events, Egypt has rushed to Iran for help. A news agency from Iran reported that Egypt’s oil minister Tareq El Molla visited Iran on Monday. However spokesmen from Iran as well Egypt have denied such claims.
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