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Great escape

Saudi US sell-off threat not to be trifled with

Andy Critchlow 

Andy Critchlow Saudi Arabia rarely jokes about money. So investors can't easily dismiss a threat that the kingdom will dump its American assets if the US Congress passes a bill allowing victims of the September 11, 2001 attacks to sue it for damages. Though a fire-sale would be devastating, it suggests the alternative - an Iran-style freezing of assets - would be an even worse outcome. The warning to Washington lawmakers that the kingdom would sell its US securities portfolio to prevent it from being seized was delivered by Foreign Minister Adel al-Jubeir, according to The New York Times. The report ...

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First Published: Wed, April 20 2016. 21:32 IST
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