Economy

Trump against cancelling $110 billion arms deal with Saudi Arabia

Trump against cancelling $110 billion arms deal with Saudi Arabia”

The Jordanian government also affirmed the Kingdom's central role in consolidating security, stability and peace and enhancing economic cooperation both regionally and globally.

With the explosive claim by Turkish authorities that Khashoggi, a prominent critic of Saudi leadership, was murdered in the Saudi consulate in Turkey on October 2, several major US business leaders and media companies have withdrawn from the investors conference set for later this month.

Mark Dankof, a former US Senate candidate, said in an interview with Press TV on Saturday that Trump is "playing games" with regard to the disappearance of a dissident Saudi journalist at the kingdom's consulate in Istanbul. Turkey claims that Khashoggi, who wrote for The Washington Post, was killed inside a Saudi diplomatic mission in Turkey.

But the President all but ruled out cancelling US$110 billion in United States arms sales to Saudi Arabia, arguing that doing so would be "very foolish for our country" and only end up harming U.S. defence industries and others.

On Sunday, Saudis stock exchange dropped by as much as 7% at one point before recovering some losses. It comes as one of the first signs of the economic pain that Riyadh could suffer over the suspected murder.

Foreign capital is key to those plans.

Palestinian Authority President Mahmoud Abbas on Sunday issued a statement in which he voiced "full confidence" in Saudi Arabia and praised its leaders for their support for the Palestinians. "That I can tell you with 100% certainty, with nearly full unanimity across the board, Republicans and Democrats, there will be a very strong congressional response if in fact the Saudis lured [Khashoggi] into that consulate, murdered him, cut up his body and disposed of it, there will be a very strong congressional response".

I read the Saudi statement in response to the American proposals regarding sanctions on Saudi Arabia.

"I actually think we'd be punishing ourselves if we did that", Trump told reporters on Saturday at the White House, adding, "There are other things we can do that are very, very powerful, very strong and we'll do them".

A protestor holds a picture of missing journalist Jamal Khashoggi during a demonstration in front of the Saudi Arabian consulate, on October 5, 2018 in Istanbul.

Now reports are emerging about evidence said to prove the journalist was murdered soon after entering the consulate and that the smartwatch he was wearing could potentially help solve the mystery.

Khashoggi, whose 60th birthday was Saturday, went to the Saudi Consulate in Istanbul's upscale 4th Levent neighborhood on September 28 seeking documents so he could be married to his Turkish fiancée, Hatice Cengiz.

Speaking with CBS's 60 Minutes, the president said that "nobody knows yet" whether the Saudi government ordered the killing of Khashoggi, a frequent critic, as Turkish officials reportedly allege. "The Saudi Arabia government has been asked, the ambassador has been asked directly to bring information back". Richard Blumenthal about the situation and he said that WWE and all other business should reevaluate their relationship with Saudi Arabia.

"Something this big would definitely spook investors, and Saudi just opened up for foreign direct investment, so that was big", said Issam Kassabieh, a financial analyst at Dubai-based firm Menacorp Finance.



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