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Saudi Arabia Appears To Be Trying To Tank Canadian Asset Prices

Saudi Arabia Appears To Be Trying To Tank Canadian Asset Prices”

"We urge the Saudi authorities to immediately release them and all other peaceful human rights activists".

Saudi Arabia, one the world's top executioners, beheaded 48 people in the first four months of 2018, according to Human Rights Watch - but crucifixions are rare.

Diplomatic channels and trade negotiations were suspended last week, and some flights from Saudi Arabia to Canada halted.

Saudi investments in Canada include G3 Global Holdings Ltd., a joint venture between Bunge Ltd. and Saudi Agricultural & Livestock Investment Co., which purchased the former Canadian Wheat Board in 2015.

Saudi Arabia has restricted travel, medical access, and students' scholarships to Canada while using its state-owned media to bash the country as unjust.

Jubeir added that the kingdom was still "considering additional measures" against Canada.

Responding to a question about the reason for the arrest of the activists, Jubeir repeated earlier allegations that they had been in touch with foreign entities.

The Financial Times (FT) reported the Saudi central bank and state pension funds had instructed their overseas asset managers to dispose of their Canadian equities, bonds and cash holdings "no matter the cost", citing unidentified sources.

The Saudi Foreign Ministry took exception to the wording of the tweet, calling it an attempt by Canada to interfere with the country's internal affairs.

"I will say Canada is very comfortable with our position", she told reporters.

Crown Prince Mohammed bin Salman recently went on a global tour touting proposed economic reforms and promoting his vision for the kingdom as "the next Europe". We are going to continue to enunciate what we believe are the appropriate ways of dealing with citizens, " Finance Minister Bill Morneau said on Tuesday.

Thomas Juneau, an assistant professor at the University of Ottawa's Graduate School of Public and International Affairs, estimated the overall trade relationship between Canada and Saudi Arabia totals between $3 and $4 billion a year.

Canadian Prime Minister Justin Trudeau is reportedly expected to be pressed on the diplomatic crisis at a press conference in Montreal.

The dispute may hurt what is a modest bilateral trade worth almost $4 billion a year.



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