Saudi Arabia vows retaliation against United States sanction 'threats' following Jamal Khashoggi's disappearance

17 October, 2018, 16:53 | Author: Brooke Harris
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SoftBank Group's shares sank Monday amid investor concerns that the firm's ties to the Saudi Arabian government could hurt it in the wake of journalist Jamal Khashoggi's disappearance. " Remarkably, the country has avoided pariah status in the United States thanks to our thirst for oil, Riyadh's carefully cultivated ties with Washington, its big arms purchases, and the two countries' shared interest in counterterrorism".

A White House aide says President Donald Trump is serious when he says there'll be "severe punishment" if Saudi Arabia is found to be complicit in the disappearance of USA resident and journalist Jamal Khashoggi.

The U.S. administration increasingly regards Saudi Arabia's denial of any involvement in the journalist's disappearance as untenable, and Trump and his aides are more and more convinced that he died after entering the consulate, according to three U.S. officials who asked not to be identified because of the sensitivity of the matter.

The index suffered its biggest intraday decline since December 2014, when oil prices were crashing, with the Gulf region's biggest petrochemical producer, Saudi Basic Industries, tumbling as much as 7.9 percent, Reuters said.

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

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Citing an "official source", the kingdom's press agency said that that it will not succumb to any political or economical pressures and nothing can as such can harm the economical position of the kingdom.

His remarks prompted Saudi Arabia to threaten to use its economic muscle to respond to any punitive measure but Rai al-Youm, a pan-Arab newspaper based in London, said the kingdom might have to ready itself for new "milking" by the US. American lawmakers have threated sanctions against the Saudis, and Germany, France and Britain jointly called today for a "credible investigation" into Mr Khashoggi's disappearance. Meanwhile, Saudi Arabia has also warned retaliation for sanctions against the Kingdom, as a response to Trump's comments.

The drop in the Tadawul exchange in Riyadh happened Sunday, the first day of trading.

According to Turkish investigators, a 15-member team "came from Saudi Arabia" to murder the dissident.

"I think we need to continue to evaluate the facts and we'll make that decision - I talked to Secretary Mnuchin about it last night, we'll be taking a look at it through the rest of the week", Pompeo, alongside President Trump, told reporters in the Oval Office on Saturday. In response, executives at some major USA companies announced they would no longer attend the "Davos in the Desert" conference hosted by the country. Turkish officials fear Khashoggi was killed and dismembered, allegations Saudi officials call "baseless".

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