Saudi Arabia said it sees no point in further investing in the US economy
The decision of the US Congress allowing relatives of those killed and injured during the terrorist attacks in New York on September 11, 2001 to file lawsuits against Saudi Arabia shows that the United States is not a rule-of-law state.
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This opinion was expressed to Izvestia by a Saudi political scientist and teacher at King Faisal University Khaled Batarfi.
“By making such a decision, Washington showed its unreliability as an ally,” the expert believes. – In addition, the United States confirmed that it is not a rule-of-law state, since it can change laws to suit opportunistic interests. Any investor who invests money in the economy of a particular country counts on the safety of his funds, guaranteed by national legislation. In this case, this principle is violated. Thus, many countries — not just Saudi Arabia — should consider moving their investments elsewhere. There’s Europe, South Africa, Russia, China — quite a lot of places where funds will be protected.”
In turn, the director of the Arab Center for Research and Analysis in Geneva, Riyad al-Saidawi, told the publication that the authorities in Riyadh have something to think about in light of the new circumstances.
“The head of the Saudi Foreign Ministry previously threatened to withdraw all assets from the American economy for a reason. It was about $750 billion,” al-Saidawi recalled. – The new law assumes that relatives of victims and victims will demand multimillion-dollar sums from Riyadh. Considering that several thousand people died during the September 11 attacks, the total amount of compensation could reach, according to some estimates, $3,3 trillion.”
Washington is also afraid of unforeseen consequences; in particular, President Barack Obama warned Congress that the United States should now prepare for lawsuits.
“If we destroy the concept of judicial immunity of states, then retaliatory actions may also begin to be taken against our military personnel around the world,” the US President fears.
Saudi officials are also warning the United States of the consequences.
“Undermining the foundations of state sovereignty, which has been the basis of international relations for hundreds of years, will have a negative effect on all countries, including the United States,” Izvestia quotes the Saudi Press Agency, citing the country’s Foreign Ministry source.
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