Qatar's Al-Jadid news website announced that Iran, Saudi Arabia, UAE and Oman will form a joint navy to guarantee the security of Persian Gulf.

Iran PressMiddle East: The Persian Gulf region produces nearly one third of the world's oil and holds over half of the world's crude oil reserves as well as a significant portion of the world's natural gas reserves.

Iran has always called on the Persian Gulf countries to participate in establish security in this important region.

Al-Jadid Qatar news website reported that the consultations of Iran, Saudi Arabia, UAE and Oman have started with the coordination of China and with the aim of ensuring the safety of navigation in the Persian Gulf.