Saudi Crown Prince Mohammed bin Salman Al Saud announces on March 15, 2018 that his country would develop a nuclear bomb if Iran does so. (AFP photo)

RIYADH, March 15 (Xinhua) -- Saudi Crown Prince Mohammed bin Salman Al Saud announced on Thursday that his country would develop a nuclear bomb if Iran does so, Al Arabiya local news reported.

"We don't want to own nuclear weapons, but if Iran does that, we would do the same," he said, adding that the Saudi economy is stronger than Iran's.

The crown prince also accused Iranian Supreme Leader Ayatollah Ali Khamenei of harboring expansion ambitions in the Middle East.

The announcement came two days after the Saudi cabinet adopted the national nuclear energy policy that is restricted for peaceful purposes and focuses mainly on the construction of nuclear energy plants.

The policy also requires best exploitation of local natural resources and full application of international standards in radiation waste management.