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US, Europe shun Saudi conference over journalist Khashoggi's disappearance
US Treasury Secretary Steven Mnuchin and senior ministers from Europe on Thursday pulled out of an investment conference in Saudi Arabia, deepening the kingdom's isolation amid an uproar over the disappearance of journalist Jamal Khashoggi.
Officials from some of Saudi Arabia's leading Western allies joined a slew of corporate bigwigs who are now shunning next week's gathering, touted as a high-powered showcase for the economic reforms of Crown Prince Mohammed bin Salman.
In an announcement that sent stocks tumbling on Wall Street, Mnuchin said he had decided with President Donald Trump that he would “not be participating in the Future Investment Initiative summit in Saudi Arabia”.
The decision was given in a terse tweet after Trump and Mnuchin were briefed by Secretary of State Mike Pompeo, who has just returned from Saudi Arabia and Turkey to probe for answers over the journalist's disappearance in Istanbul.
Mnuchin gave no explanation. But Britain and France — which like the United States are leading suppliers of arms to Saudi Arabia — made clear their disquiet over Khashoggi's fate as they yanked their own representation at the Riyadh conference.
“We have taken this decision in a coordinated manner among Europeans,” President Emmanuel Macron told reporters at an EU summit in Brussels.
“It is what's required in the short term, taking account of the gravity of the facts, in the absence of (Saudi) clarification,” he said, after French Economy Minister Bruno Le Maire confirmed he was staying away from Riyadh.
British International Trade Secretary Liam Fox said “the time is not right” to go to the Saudi capital for the October 23-25 conference, dubbed “Davos in the Desert”.
Holding to account
Khashoggi, who was living in self-imposed exile in the US where he contributed to the Washington Post, vanished after entering the Saudi consulate in Istanbul on October 2.
Turkish media report that he was killed and dismembered inside the consulate by a hit squad which arrived from Riyadh — claims denied by the Saudi government.
“The UK remains very concerned about Jamal Khashoggi's disappearance,” a British government spokesperson said in a statement, insisting that the Saudis abide by their pledge to carry out a full and transparent investigation.
“Those bearing responsibility for his disappearance must be held to account.”
The Netherlands said Finance Minister Wopke Hoekstra was no longer going to the conference, and that it was also cancelling a planned trade mission to Saudi in December.
Working with the EU and other partners, the Dutch government would “look at ways international concerns about Khashoggi could be addressed”, Foreign Minister Stef Blok said.
International Monetary Fund chief Christine Lagarde already pulled out of the conference this week along with several Western business leaders and media groups.
But while withholding judgment on the case, Trump and Pompeo in recent days have stressed the depth of US-Saudi cooperation in financial and counterterrorism matters stretching back for almost a century.
Comments (23) Closed
Saudi Arabia at present is the world financial hub for the Western World. They cannot think about displeasing the Saudis and loosing their goldmine. These storms in the cup are bound to die sooner than the had risen. Money has a great power to shape things.
The Saudi party is coming to an end. Saudis better start going to school. A nation of illiterates is hard to sustain...oil can only take you so far.
After all they all seem to have a token response to the situation.
Prince is known for his radical vindictive moves and arrogance. One wouldn't be surprised if Turkey is right.
Nothing is going to happen to Saudi Arabia. Pretty soon the whole world specially the west will do the business as usual. Can anyone imagine if Iran or anything country had done this, by now they would be bombed like hell.
@M. Saeed you're wrong, US UK are financial hubs. If they can make Saudis oil an asset then they can introduce the oil alternative as well.
In this world,cutting edge technology makes you a hub and not some natural asset.
@M. Saeed you forgot to say unfortunately because a man's life should be worth more than dollars.
Due to their conduct and behavior entire civilized world should totally boycott Saudi Arabia.They are a disgrace for the whole Muslim Ummah.
@M. Saeed The Saudis cannot even repair their oil producing machinery without foreigners. They will go back to riding camels if all foreigners leave.
End of the Saudi clan is near which imposed itself forcibly on the land as the royals. Arabia needs a representative government which is long overdue. The world needs to help the people there so they can get rid of these thugs and bandits
@Anurag You are so right. West has always led the world with power of knowledge!
@M. Saeed so you believe it’s ok to dismember a person in civilized society and you calling it a storm in a cup . Sad
It is time to teach this medieval kingdom a good lesson.
@M. Saeed That is what people thought in Iraq, Egypt and Libya -- just storms in a tea cup. Now look at what happened?
@Anurag Petro Dollar is what keeps the ponzi going . Without it the US dollar will be worthless and the entire financial system of the west will collapse . Cutting edge technology depends on energy which cannot be created from thin air like the dollars and the euros . wake up and smell the new beginning .
@AMJAD KHAN thank for being honest
They can't afford tension with Saudi Arabia. They will have to return. This must be a public stunt or pressure for KSA on some other ulterior reason.
@AMJAD KHAN
Mr. AMJAD KHAN,
Have heard or read that the followers,
supporters and sympathisers of Saudi-Ideology
condemn this brutality and inhuman act?
Unfortunately, the downfall of Arab world has
already started.
@AMJAD KHAN
Mr. AMJAD KHAN,
Correct.
And without any doubt.
@Shubs
Mr. Shubs,
“A nation of illiterates“.
Nobody can deny this and you have said the
truth.
This place has spewed terror through out middle east and around. Nothing new.
@M. Saeed soon you will see saudis being dethroned from that financial hub
@M. Saeed - You are wrong man. Saudi si not the world financial hub. It is Singapore, London and even Dubai. Saudi is oil hub at the most you can call. But not a financial hub.