Saudi Arabia's Crown Prince Mohammad bin Salman told CBS that while Iran's attack on Saudi Aramco's oil facilities was an act of war, he favours a "political and peaceful solution" to a military one.
He warned that "if the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests. Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven't seen in our lifetimes."
When asked about the strategic purpose behind Iran's attack, he called it "stupidity," saying that "only a fool would attack 5% of global supplies. The only strategic goal is to prove that they are stupid and that is what they did."
"This attack didn't hit the heart of the Saudi energy industry, but rather the heart of the global energy industry," . It disrupted 5.5% of the world's energy needs, the needs of the US and China and the whole world."
Saudi Aramco's output represents far more than that to the regional energy market, about 30% of supply and 20% of global trade passages, and 4% of global GDP, the crown prince said.
"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."
He urged a new deal between US President Donald Trump and Iran's President Hassan Rouhani, noting that "this is what we all ask for. However, it is the Iranians who don't want to sit at the table."