Iran: UAE's Exit from OPEC is Unconstructive

Tehran (ANTARA) - Iran has described the United Arab Emirates’ (UAE) withdrawal from OPEC as an unconstructive action, as a negative reaction to developments in the region, according to Iran’s Foreign Ministry spokesman, Esmail Baghaei, on Monday.

Last week, the UAE announced it would leave OPEC (Organisation of Petroleum Exporting Countries) and OPEC+ effectively from 1 May.

The UAE Foreign Ministry’s communications director, Afra Mahash Al Hameli, stated that the decision was a strategic and sovereign choice based on its long-term economic vision.

Meanwhile, it will continue to work closely with partners, strengthen multilateral cooperation, and contribute to the market after its withdrawal from OPEC.

“It is entirely unconstructive when a country wants to withdraw [from the organisation] as a negative reaction [to events in the region] or as a form of revenge against countries in the region or OPEC countries,” Baghaei said in a briefing.