Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    US employment cost index 3.6% up in year to June 2025    Egypt welcomes Canada, Malta's decision to recognise Palestinian state    Pakistan says successfully concluded 'landmark trade deal' with US    Sterling set for sharpest monthly drop since 2022    Egypt, Brazil sign deal to boost pharmaceutical cooperation    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia announces will retaliate against any sanctions over Khashoggi case
Published in Amwal Al Ghad on 15 - 10 - 2018

Saudi Arabia on Sunday warned against threats to punish it over last week's disappearance of journalist Jamal Khashoggi, as European leaders piled on pressure and two more U.S. executives scrapped plans to attend a Saudi investor conference.
Khashoggi, a U.S. resident and Washington Post columnist critical of Riyadh's policies, disappeared on Oct. 2 after entering the Saudi consulate in Istanbul. Turkey believes he was murdered and his body removed. Saudi Arabia has denied that.
U.S. President Donald Trump has threatened "severe punishment" if it turns out Khashoggi was killed in the consulate, though he said Washington would be "punishing" itself if it halted military sales to Riyadh.
"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 official Saudi Press Agency (SPA) quoted an unnamed official as saying.
"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," the official added, without elaborating.
The Saudi Embassy in Washington later tweeted what it called a clarification, thanking countries including the United States "for refraining from jumping to conclusions" over the case.
In a sign Saudi King Salman bin Abdulaziz Al Saud may seek a diplomatic solution to the incident, he stressed the strength of Saudi-Turkish ties in a telephone call with President Tayyip Erdogan of Turkey, the Saudi press agency said late on Sunday.
The king thanked Erdogan for welcoming a Saudi proposal to form a joint working group to discuss Khashoggi's disappearance and said no one could undermine their relationship.
EUROPE SEEKS CREDIBLE INVESTIGATION
Europe's largest economies — Britain, France and Germany — said on Sunday they were treating the case with "the utmost seriousness".
"There needs to be a credible investigation to establish the truth about what happened, and – if relevant – to identify those bearing responsibility for the disappearance of Jamal Khashoggi, and ensure that they are held to account," the countries said in a joint statement.
"We encourage joint Saudi-Turkish efforts in that regard, and expect the Saudi Government to provide a complete and detailed response. We have conveyed this message directly to the Saudi authorities."
The statement, by Britain's Jeremy Hunt, France's Jean-Yves Le Drian and Germany's Heiko Maas, made no mention of potential actions the countries might take. Hunt later said that if Saudi Arabia were proven to be guilty, "we would have to think about the appropriate way to react in that situation."
OIL PRICE WARNING
In a column published just after the SPA statement, Saudi-owned Al Arabiya channel's General Manager Turki Aldakhil warned that imposing sanctions on the world's largest oil exporter could spark global economic disaster.
"It would lead to Saudi Arabia's failure to commit to producing 7.5 million barrels. 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," he wrote.
Investor concern is growing that Khashoggi's disappearance could add to a sense that Saudi policy has become more unpredictable under Crown Prince Mohammed bin Salman, who is pushing social and economic reforms but has also presided over a rise in tensions between with several countries.
A Gulf banker said the Khashoggi case, combined with other events, had become a significant factor for some potential investors.
"It's cumulative – the Yemen war, the dispute with Qatar, the tensions with Canada and Germany, the arrests of women activists. They add up to an impression of impulsive policy-making, and that worries investors," the banker said.
Foreign capital is key to Saudi plans for economic diversification and job creation.
But in response to Khashoggi's disappearance, media organizations and a growing number of executives have pulled out of a Riyadh investment conference scheduled for next week, dubbed "Davos in the Desert."
On Sunday, JP Morgan Chase & Co said Chief Executive Jamie Dimon has canceled plans to attend the Saudi Arabian investor conference later this month. Ford Motor Co said Chairman Bill Ford has canceled his trip to the Middle East, which included an appearance at the Saudi investment conference.
JP Morgan Chase and Ford did not comment on whether the decision was related to concerns about the disappearance of Khashoggi.
U.S. Treasury Secretary Steve Mnuchin still plans to attend the conference, but that could change, Larry Kudlow, director of the White House National Economic Council, said on ABC's "This Week".
WASHINGTON REACTS
U.S. senators called for reactions ranging from boycotting an upcoming economic summit in Riyadh to ending support for Saudi military operations in Yemen.
"If they lured this man into that consulate, they went medieval on him, and he was killed and he was chopped up and they sent a death crew down there to kill him and do all of this, that would be an outrage," Florida Senator Marco Rubio told CNN's State of the Union.
"Just because they are an ally in an important mission, which is containing Iranian expansion in the region, cannot allow us to overlook or walk away from that."
Fellow Republican, Arizona Senator Jeff Flake, appearing on "This Week", called for "severe action" which he said would affect arms sales and involvement in Yemen.
The Saudi stock market fell as much as 7 percent in early trade on Sunday, one of the first signs of economic pain Riyadh could suffer over the affair. By close, it had recovered some losses, ending down 3.5 percent and losing $16.5 billion of market value.
Senators have triggered a provision of the Global Magnitsky Human Rights Accountability Act requiring the president to determine whether a foreign person is responsible for a gross human rights violation. The act has in the past imposed visa bans and asset freezes on Russian officials.
Anti-Saudi sentiment in the U.S. Congress could conceivably raise pressure to pass the No Oil Producing and Exporting Cartels Act, which would end sovereign immunity shielding OPEC members from U.S. legal action.
ACCESSING CONSULATE
The crisis has polarized Saudis, with some blaming the nation's enemies and others concerned about the direction the country is heading under Prince Mohammed.
Prince Khaled al-Faisal, a senior member of Saudi Arabia's ruling family and senior advisor to King Salman, has met Erdogan to discuss Khashoggi's disappearance, two sources with knowledge of the matter told Reuters without providing details.
A Turkish official told Reuters on Sunday that the Saudis had said they would allow the consulate to be searched, and that this would happen by the end of the weekend, though he conceded to "flexibility on this date."
"But Turkey is determined on the subject of entering the consulate and carrying out a criminal inspection. There is no alternative to carrying out this inspection. Time is important in terms of evidence," the official said.


Clic here to read the story from its source.