Saudi Arabia warns Trump of retaliation

Saudi Arabia warns Trump of retaliation

Troy Powers
October 15, 2018

Saudi Arabia on Sunday dismissed threats of sanctions over the disappearance of journalist Jamal Khashoggi and vowed that the oil-rich kingdom would retaliate with consequences for the world economy.

A Saudi dissident in Quebec said on Sunday he believes the kingdom hacked his phone and listened to calls he had with Jamal Khashoggi prior to the journalist´s disappearance. The kingdom has called such allegations "baseless" but has not offered any evidence Khashoggi ever left the consulate.

But the impact of widespread condemnation has already begun to hit the Kingdom.

Later at the White House, he reiterated that there would be "powerful consequences" for Saudi Arabia.

TRT World sources deny Jamal Khashoggi's Apple Watch is part of the investigation into his disappearance after Turkish newspaper Sabah reported on Saturday the Saudi journalist may have recorded his own torture and murder at Saudi Arabia's consulate in Istanbul.

Mohammed Zidan, a market strategist at Thinkmarket in Dubai, said the drop in Saudi stocks was the result of panic selling because of several political and economic factors. "Investors do not feel solid in Saudi yet, so it's easy for them to take back their funds".

It did not directly acknowledge Mr Khashoggi's disappearance and came shortly after the Saudi stock market plunged by almost 7% at on Sunday.

"It's clear, we can not have an ally who murders in cold blood, in their own consulate, a critic, a dissident, that is unacceptable", Sanders said. "We're going to get to the bottom of it and there will be severe punishment".

United States President Donald Trump said on Friday that he will speak to Saudi king Salman on the matter.

"If they don't buy it from us, they're going to buy it from Russian Federation or they're going to buy it from China or they're going to buy it from other countries", he said.

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Trump trashed Ford even though the FBI is looking into the matter, virtually prejudging the outcome of the limited investigation. Flake told NBC's " Today " show Wednesday that mocking "something this sensitive at a political rally is just not right".

The statement did not elaborate.

Worldwide benchmark Brent crude traded at around $81.43 Monday morning, up around 1.2 percent, while U.S. West Texas Intermediate (WTI) stood at $72.12, slightly more than 1 percent higher. "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".

"The Kingdom of Saudi Arabia extends it appreciation to all, including the U.S. administration, for refraining from jumping to conclusions on the ongoing investigation".

From tech tycoons to media giants, a host of Western companies are now distancing themselves from the Gulf state, imperilling Crown Prince Mohammed bin Salman´s much-hyped economic reform drive. "Secretary Mnuchin should immediately cancel his upcoming trip to Saudi Arabia and after a two year delay, the Trump Administration should finally nominate a U.S. Ambassador to Saudi Arabia".

The chief executive of JPMorgan Chase & Co., Jamie Dimon, had been a featured speaker at the conference in Riyadh.

JP Morgan CEO James Dimon and Ford chairman Bill Ford said on Sunday they would also not attend.

"But, again, along with the president and the general investigation, Mr. Mnuchin will make up his mind as the week progresses and as new information surfaces", Kudlow added.

What about the Saudi markets?

Saudi consulate officials have said that missing writer and Saudi critic Jamal Khashoggi went missing after leaving the consulate, however the statement directly contradicts other sources including Turkish officials.