SAUDI
ARABIA THREATENS TO SELL $750 BILLION DOLLARS IN ASSETS IF ITS ROLE
IN 9/11 IS REVEALED
Such
a sell-off would end up crippling the kingdom’s economy
16
April, 2016
Original
article at NY
Times
WASHINGTON
— Saudi Arabia has told the Obama administration and members of
Congress that it will sell off hundreds of billions of dollars’
worth of American assets held by the kingdom if Congress passes a
bill that would allow the Saudi government to be held responsible in
American courts for any role in the Sept. 11, 2001, attacks.
The
Obama administration has lobbied Congress to block the bill’s
passage, according to administration officials and congressional
aides from both parties, and the Saudi threats have been the subject
of intense discussions in recent weeks between lawmakers and
officials from the State Department and the Pentagon. The officials
have warned senators of diplomatic and economic fallout from the
legislation.
Adel
al-Jubeir, the Saudi foreign minister, delivered the kingdom’s
message personally last month during a trip to Washington, telling
lawmakers that Saudi Arabia would be forced to sell up to $750
billion in treasury securities and other assets in the United States
before they could be in danger of being frozen by American courts.
Several
outside economists are skeptical that the Saudis will follow through,
saying that such a sell-off would be difficult to execute and would
end up crippling the kingdom’s economy. But the threat is another
sign of the escalating tensions between Saudi Arabia and the United
States.
Read more.
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