Former US Secretary of State, speaking at FII Priority Miami summit, claimed US deterrence of Iranian regime had been lost LONDON: Taking away Iran’s ability to create instability in the Middle East was the driving force behind the 2020 Abraham Accords, and US policy needs to move back toward imposing a cost on Tehran’s malign actions, former Secretary of State Mike Pompeo said on Thursday. The accords were agreements signed by the UAE and Bahrain to normalize relations with Israel, brokered by then-US President Donald Trump. Sudan and Morocco also later agreed to establish ties with Israel. Pompeo told the Future Investment Initiative Priority forum in Miami that the process of formulation to signing the accords happened due to a “central thesis” held by all involved that Tehran was the “malign actor” in the region. “You should know, I’m hopelessly biased as they’re still trying to kill me. If you see me walking around with a security team, it’s not because I enjoy it but because I still need it,” he said. “I think that’s telling. You can see (Iran’s) hand in what happened in Gaza. They supported, funded and essentially facilitated the capacity for Hamas to carry out the barbaric attacks (on Israel) which took place on Oct. 7. “Today, without the Iranian support you’d still have shipping through the Red Sea, instead of transit having to move some other way because you’ve got missiles being launched into (the area) with relatively good accuracy. “Nearly all the instability that takes place in the Middle East is as a direct result of that regime in Iran. The United States had the lead in deterring them and we’ve lost that.” Pompeo praised Saudi Aramco for stabilizing oil markets following an attack claimed by the Iran-backed Houthis on its facilities in Abqaiq-Khurais in eastern Saudi Arabia, but pinpointed that attack as the beginning of the end of the US and the West being able to deter Tehran. Despite a US drone strike that assassinated senior Islamic Revolutionary Guard Corps official Qassem Soleimani in 2020, Pompeo said the current administration of President Joe Biden and the leadership in many European countries are now unwilling to impose a cost on Tehran for its malign activities. “We permitted (Iran) for three years to fire rockets out of Yemen into southern Saudi Arabia and we did nothing, and that was a precursor to what I think you’re seeing today,” Pompeo added. He said part of the solution is being serious about taking Iranian crude oil off the market and limiting revenue for the regime from that source, adding that in January 2021, Iran had $4 billion worth of foreign exchange reserves compared with $25-$30 billion today.