Published: Mon, October 15, 2018
Markets | By Terence Owen

Is This the Break With Saudi Arabia We've Been Waiting For?

Is This the Break With Saudi Arabia We've Been Waiting For?

On Saturday, U.S. President Donald Trump threatened Riyadh with "severe punishment" if Khashoggi has been murdered. Of 188 stocks traded on the exchange, 179 ended the day with a loss.

Oil futures rose on Monday on concerns about supply, while stocks in Saudi Arabia fell sharply on Sunday.

Mohammed Zidan, market strategist at Thinkmarket in Dubai, said the drop in Saudi stocks was the result of panic selling because of several political and economic factors.

Of course, Congress could have something to say about what might happen between the USA and Saudi Arabia.

Trump has praised the Saudi regime for cracking down on opponents and his son-in-law, Jared Kushner, has personal ties to crown prince Mohammed bin Salman.

Rubio, who made the remark during an interview with NBC News' Chuck Todd on "Meet the Press," was specifically referring to the disappearance of Saudi journalist Jamal Khashoggi.

Sen. Bernie Sanders joined calls for the impose sanctions on Saudi Arabia if the country is responsible for the disappearance of Saudi journalist Jamal Khashoggi at a consulate in Turkey earlier this month.

In a column published just after the SPA statement, Saudi-owned Al Arabiya channel's General Manager Turki Aldakhil warned that imposing sanctions on the world's largest oil exporter could spark global economic disaster.

Saudi consulate officials have said that missing writer and Saudi critic Jamal Khashoggi went missing after leaving the consulate, however the statement directly contradicts other sources including Turkish officials.

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The president's comments were in response to questions about an interview the Daily Mail released with his son Donald Trump Jr. First, back in June, Democrats tried to argue the Senate shouldn't confirm a Supreme Court justice in any even-numbered year.

"One of the strong things that we can do is not only stop military sales, not only put sanctions on Saudi Arabia, but most importantly, get out of this awful, bad war in Yemen led by the Saudis", he said.

Aldakhil added that Saudi arms purchases from the USA and other trade could be at risk as well.

The Saudi Embassy in Washington tweeted Sunday night it appreciated America "for refraining from jumping to conclusions on the ongoing investigation", likely trying to walk back the rhetoric.

"The country that can help us get to the bottom of this is Saudi Arabia", he said.

Saudi King Salman called President Recep Tayyip Erdoğan, thanking him for the recently formed joint Turkish-Saudi working group to investigate the disappearance of journalist Jamal Khashoggi, who is feared to have been murdered by a team of Saudi agents in the kingdom's Istanbul consulate.

Exports to Saudi Arabia are mostly primary products such as dairy products, sheep meat and wood, but New Zealand has also been looking into ways it could help the Saudi government with educational reforms, including "curriculum development, technical vocation and training", according to NZTE.

Media companies and some technology executives have pulled out of a major Saudi investment conference dubbed "Davos in the Desert", scheduled for next week in Riyadh, because of growing outrage over the disappearance. Ford Motor Co said Chairman Bill Ford has cancelled his trip to the Middle East, which included an appearance at the Saudi investment conference.

This would be the WWE's second show in Saudi Arabia of 2018.

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