Saudi Arabia may sell off EU debt securities. This is likely due to the confiscation of Russian assets in the West.
According to the sources, the country's representatives gave a "clear signal" to the West about the need to comply with the norms of international law. The country's Finance Ministry does not support retaliatory measures.
The ministry believes that relations with the G7 and other states are based on mutual respect, issues that contribute to global growth and increase the stability of the financial system will continue to be discussed, Bloomberg reports.
The Gulf countries' total investments in euros and EU securities amount to about 15.1 billion euros. The European Central Bank's reserves are estimated at 69 billion, of which 51 are denominated in currency and the remainder in gold. To really cause a market crash, Riyard should be joined by Beijing and Tokyo, BitRiver communications director Andrei Loboda noted.
Recall that in Russia, companies' spending on hiring mass staff is growing. The EU will find ways to return all their money.