Trump said on Tuesday that the 2015 nuclear deal, which lifted sanctions on Iran in return for measures restricting its nuclear programme, did not go far enough in removing the threat posed by Tehran to the US and its allies in the Middle East.
Oil-rich Saudi Arabia has long said it would match any Iranian weapons development, but Jubeir's renewed vow came after U.S. President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.
He was speaking the day after US President Donald Trump pulled out of a 2015 deal that seeks to curtail Iran's nuclear weapons program.
The South Asian country remained a big buyer of Iranian oil even during previous Western sanctions, though it had to cut purchases to win some waivers as the trade was mostly done in USA dollars. "And the Iranians must be held accountable for this", Al-Jubeir told CNN.
Except for Saudi Arabia and Israel, the entire worldwide community reacted with anger to Trump's decision to abandon the deal, which has been hailed as a victory for global diplomacy and a pillar of regional stability.
The nuclear deal reached in 2015 has only tackled the nuclear side in the Iranian practices, which was not the sole element that should have been watched, the statement said.
"I think we have 180 days before any supply impact", an OPEC source said when asked about any plans for action.
Negotiating a new deal on output levels is likely to prove tricky since OPEC operates by consensus and sanctions pit two of its most important producers directly against one another. Although a reactor deal would produce the highest revenue, there are many other important areas through which the United States can assist the Saudi nuclear program-from developing its power grid, building related infrastructure to training personnel, and developing independent legislative body.
An OPEC source familiar with Saudi Arabia's oil strategy said on Wednesday the kingdom is monitoring the impact of U.S. withdrawal from the Iran deal on oil supplies and is prepared to offset any potential shortage. Prime Minister Benjamin Netanyahu called the decision "courageous".
The renewed sanctions are meant to force Iran to renegotiate a 2015 agreement over its nuclear program the country's leaders have said they will not revisit.
"The IAEA is closely following developments", Amano said.
The European Union also said Israel should take the claims to the IAEA.