Saudi Arabia's MBS: War with Iran would collapse global economy

Saudi Arabia's crown prince warned in an interview aired on Sunday that a military confrontation with Iran would collapse the global economy, adding that he would prefer a political and peaceful solution to a military one.

Crown Prince Mohammed bin Salman told the US-based CBS programme "60 Minutes" that crude prices could spike to "unimaginably high numbers" in case of an armed conflict.

"The region represents about 30 percent of the world's energy supplies, about 20 percent of global trade passages, about four percent of the world GDP," the crown prince, also known as MBS, said.

"Imagine all of these three things stop. This means a total collapse of the global economy, and not just Saudi Arabia or the Middle East countries."

He urged the world to take "strong and firm action to deter Iran" and prevent the situation from further escalation.

MBS also said that he agrees with US Secretary of State Mike Pompeo's conclusion that the September 14 attacks on the kingdom's oil facilities were an act of war by Iran.

The United States, European powers and Saudi Arabia have also blamed the attacks on Iran.

Tehran has strongly denied any involvement, demanding proof, while Yemen's armed group, the Houthis, has claimed responsibility.