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Saudi-Iran conflict threatens to flare in Pakistan

The decades-old rivalry between Saudi Arabia and Iran has re-emerged at a difficult time, with Tehran in economic crisis due to US sanctions. The recent friction started with a tussle over oil pricing. Riyadh offered the world cheaper oil to attract consumers facing any disruption in the Iranian oil supply. The second phase of US sanctions have had a devastating impact on Iran’s oil exports, shipping and banks, hitting the core of the Iranian economy. Iran’s oil exports have dropped nearly 1 million barrels a day, slashing its main source of revenue. More than 100 big international oil companies, […]

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