Published: Wed, October 17, 2018
Markets | By Terence Owen

UK, Germany, France press Saudi Arabia over Khashoggi disappearance

UK, Germany, France press Saudi Arabia over Khashoggi disappearance

Khashoggi, a well-known critic of Saudi Arabia's regime, disappeared after walking into the Saudi consulate on October 2.

Under Son, SoftBank built its global influence through tech investments and raised over $93 billion previous year to create its Vision Fund - with $45 billion coming from Saudi Arabia.

Turkish officials have said they fear a Saudi hit team killed and dismembered Mr Khashoggi, who wrote critically of Saudi Crown Prince Mohammed bin Salman.

Aldakhil pointed out that due the economic muscle of Saudi Arabia, which is the destination of ten per cent of the weapons manufactured in the USA and is one of the top 20 economies, Riyadh will have as many as 30 different options "without flinching an eye if sanctions are imposed on it".

He warned that any sanctions would lead to the kingdom's "failure to commit" to specific levels of oil production and "if the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure". Trump also told reporters Saturday that there would be "very powerful" repercussions if Saudi Arabia is found to be responsible. SoftBank and Saudi Arabia said in March they would build the world's biggest solar power generation project.

"There needs to be a credible investigation to establish the truth about what happened, and - if relevant - to identify those bearing responsibility for the disappearance of Jamal Khashoggi, and ensure that they are held to account".

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Of course, Congress could have something to say about what might happen between the USA and Saudi Arabia. President Donald Trump threatened Riyadh with " severe punishment " if Khashoggi has been murdered.

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Saudi Arabia, which provided much of the funding for the SoftBank Vision Fund, is seeing a growing number of attendees pull out of the "Davos in the Desert" investment conference after the disappearance of a prominent Saudi journalist.

The exchange dropped by over 500 points, then clawed back some of the losses, ending the day down 264 points, or more than 4 per cent. Saudi authorities last week agreed to let Turkish officials search the consulate after Ankara sought permission to probe the building on Saudi sovereign territory. Pointing out that Russia and China were ready to step in, he added that "no one can deny that repercussions of these sanctions will include a Russian military base in Tabuk, northwest of Saudi Arabia, in the heated four corners of Syria, Israel, Lebanon and Iraq".

However, he told CBS News on Saturday that the United States was investigating the case which he called "really awful and disgusting" and that "there will be severe punishment".

Journalist Jamal Khashoggi entered Istanbul's Saudi consulate and has not been heard from since.

Jamal Khashoggi hasn't been seen since entering the Saudi embassy in Istanbul.

Khashoggi's vanishing, and the grisly allegations of his murder by Saudi authorities, are testing close ties between the Trump administration and its key Arab ally.

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