After the downing of a U.S. drone over the Persian Gulf June 20, Saudi Arabia warned that Iran has endangered regional stability and oil supplies.
Saudi Arabia's minister of state for foreign affairs said on Thursday Iran has created a grave situation and jeopardized global oil supplies with its aggressive behavior, adding that the kingdom was consulting with allies on next steps.
The United States and Saudi Arabia are among countries that have blamed Iran for attacks on oil tankers near the Strait of Hormuz, a major transit route for global oil supplies. Tehran has denied involvement.
"I think the situation is very grave because of the aggressive behavior of Iran," Adel al-Jubeir told reporters in London.
Global crude oil prices jumped six percent after Iranian forces shot down a U.S. drone over the Strait of Hormuz on June 20.
"When you interfere with international shipping it has an impact on the supply of energy, it has an impact on the price of oil which has an impact on the world economy. It essentially affects almost every person on the globe."
Al-Jubeir also criticized a UK court decision to disallow British arms sales to Saudi Arabia.
A UK court earlier found that Britain broke the law by allowing arms sales to Saudi Arabia that might have been used in Yemen's war. The ruling does not halt Britain's arms exports but means the granting of new licences will be paused.
Iran would be the only beneficiary of any end to arms exports from Britain to Saudi Arabia, al-Jubeir said on Thursday, adding that the deployment of weapons in Yemen was legitimate.
"The decision by the court in the UK has to do with procedures for licensing, not any wrongdoing that took place," al-Jubeir told reporters in London.