Saudi Arabia Threatened to Sell Off Europe’s Bonds In Russian Support

Saudi Arabia has threatened to sell off Eurobonds and French bonds if the G7 intended to use Russian assets to support Ukraine.

Although the kingdom’s finance ministry rejected threatening the bloc with anything, one official familiar with the matter confirmed the development.

The group of seven major economies recently decided to use Russian assets worth $280 billion to support Ukraine to reconstruct. 

Playing From Both Sides

The gulf kingdom is seen as a balancer amid Russian aggression in Ukraine.

Bloomberg, who first published the story, reported that although Saudi Arabia’s decision wouldn’t make a difference, other countries could follow suit.

The kingdom rejected the story, suggesting that “it wasn’t the government’s style to make such threats.”

In April, Politico reported that Saudi Arabia, along with China and Indonesia, was privately lobbying the EU against the confiscation of Russian as it would set a dangerous precedent.

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