Saudi Regime Threatens Retaliation For Any Punishment
The comments come the day after Trump warned of “severe punishment.”
By Jon Gambrell
October 14, 2018 "Information Clearing House" - DUBAI, United Arab Emirates (AP) — Saudi Arabia warned Sunday it will respond to any “threats” against it as its stock market plunged following President Donald Trump’s warning of “severe punishment” over the disappearance of Washington Post contributor Jamal Khashoggi.
Trump made a point of visiting the kingdom on his first overseas trip as president and has touted arms sales to Saudi Arabia. But both the White House and the kingdom are under mounting pressure as concern grows over the fate of the veteran journalist, who hasn’t been seen since he entered the Saudi Consulate in Istanbul on Oct. 2.
Already, international business leaders are pulling out of the kingdom’s upcoming investment forum, a high-profile event known as “Davos in the Desert.”
“The kingdom affirms its total rejection of any threats and attempts to undermine it, whether by threatening to impose economic sanctions, using political pressures or repeating false accusations,” the statement published by the state-run Saudi Press Agency read. “The kingdom also affirms that if it receives any action, it will respond with greater action, and that the kingdom’s economy has an influential and vital role in the global economy.”
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The statement from the world’s top oil
exporter came after the Tadawul exchange in
Riyadh dropped by 7 percent at one point
during the week’s first day of trading, with
182 of its 186 listed stocks showing losses
by the early afternoon. The market clawed
back some of the losses, closing down 3.5
percent for the day.
Turkish officials say they fear Saudi agents
killed and dismembered Khashoggi after he
entered the consulate, saying they have
audio and video recordings of it that they
have not released. The kingdom has called
the allegations “baseless,” but has offered
no evidence the writer ever left the
consulate.
In an interview to be aired Sunday, Trump
told CBS’ “60 Minutes” that the consequences
of Saudi Arabia being involved would be
“severe.”
“There’s something really terrible and
disgusting about that, if that was the case,
so we’re going to have to see,” Trump said.
“We’re going to get to the bottom of it and
there will be severe punishment.”
However, Trump in the same interview said:
“As of this moment, they deny it and they
deny it vehemently. Could it be them? Yes.”
Other stock exchanges in the Mideast saw far
less volatility Sunday. U.S. markets have
been rattled by rising interest rates, signs
of a slowdown in the global economy and the
U.S.-China trade dispute.
Saudi Crown Prince Mohammed bin Salman has
aggressively pitched the kingdom as a
destination for foreign investment. But
Khashoggi’s disappearance, and suspicions he
may have been targeted over his criticism of
the crown prince, have led several business
leaders and media outlets to back out of an
upcoming high-profile investment conference
in Riyadh.
Trump also said “we would be punishing
ourselves” by canceling arms sales to Saudi
Arabia, which his administration touted on
his first overseas trip. The sale is a
“tremendous order for our companies,” and if
the kingdom doesn’t buy its weaponry from
the United States, they will buy it from
others, he said. Trump said he would meet
with Khashoggi’s family.
American lawmakers in both parties have been
more critical of Saudi Arabia, with several
suggesting officials in the kingdom could be
sanctioned if they were found to be involved
in Khashoggi’s disappearance and alleged
killing.
Khashoggi, who was considered close to the
Saudi royal family, had become a critic of
the current government and Prince Mohammed,
the 33-year-old heir apparent who has shown
little tolerance for criticism.
As a contributor to the Post, Khashoggi has
written extensively about Saudi Arabia,
including criticism of its war in Yemen, its
recent diplomatic spat with Canada and its
arrest of women’s rights activists after the
lifting of a ban on women driving.
Those policies are all seen as initiatives
of the crown prince, who has also presided
over a roundup of activists and businessmen.
Trump has repeatedly criticized Saudi Arabia
and King Salman over rising global oil
prices. Benchmark Brent crude now trades
above $80 a barrel and U.S. gasoline prices
have risen ahead of the midterm elections.
Earlier this month, Trump suggested Saudi
Arabia’s king “might not be there for two
weeks” without U.S. military support.
This article was originally published by "Huffington Post" -
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==See Also==
Saudi stocks plunge amid pressure over Khashoggi disappearance | Al Jazeera English
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