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Saudi Arabia Orders Its Fund Managers to Dump Canadian Assets
WSJ ^ | 8-8-2018 | By Margherita Stancati in Beirut,

Posted on 08/08/2018 7:48:42 PM PDT by tcrlaf

Saudi Arabia is ordering its citizens to leave Canada, selling its financial assets there and freezing trade between the two countries as part of an extraordinary diplomatic spat that has brought into global view the kingdom’s extreme sensitivity to Western criticism.

The steps follow the Canada’s foreign ministry’s chastising Saudi Arabia for its recent arrest of human-rights activists. Canada’s foreign ministry, in a Twitter message sent on Friday, called on Saudi authorities to “immediately release” the activists.

The Saudi government rejected what it described as Canada’s unacceptable interference in its domestic affairs, and on Monday expelled the Canadian ambassador to the kingdom and recalled its own from Ottawa.

Since then, Saudi Arabia has unveiled measures intended to hurt Canada financially.

Saudi Arabia’s central bank instructed its fund managers to sell off their Canadian holdings, three people familiar with the matter said on Wednesday.

The kingdom has also halted all new business transactions between the two countries; it stopped direct flights to Canada; and it ordered Saudi patients and students to leave the country. Some 7,000 Saudi students are currently enrolled in Canadian universities on government-sponsored scholarships.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Canada; Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: assets; canada; dennishorak; energy; europeanunion; hydrocarbons; jodywilsonraybould; justintrudeau; maga; nato; opec; saudi; saudiarabia; snclavalin; trudeau; twitter
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Bad optics and politics from Canada, and strong-arming from the Saudi's
1 posted on 08/08/2018 7:48:42 PM PDT by tcrlaf
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To: tcrlaf

Who knew 2 words would drive them away , “Woman’s Rights”,LOL


2 posted on 08/08/2018 7:52:39 PM PDT by butlerweave
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To: butlerweave

It shows how other countries can bully each other. The US on the other hand can’t be bully by any country period.


3 posted on 08/08/2018 7:55:21 PM PDT by Tamatoa (Fight for our America, Fight for our Country I fought to defend!!!)
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To: tcrlaf

Virtue-signaling has its costs.


4 posted on 08/08/2018 7:58:04 PM PDT by Steely Tom ([Seth Rich] == [the Democrat's John Dean])
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To: Steely Tom

Virtue-signaling has its costs.

***************

It will be interesting to see what, if any, effect this has on the TSX. Wonder if the Saudi money will be diverted to the U.S.?


5 posted on 08/08/2018 8:05:42 PM PDT by Starboard
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To: tcrlaf

Maybe it’s just me but this dump Canada seem like a great way to cause a panic and end up owning the place by buying up stuff through intermediaries.

The Canadians should take a “Screw you, Buddy!” attitude and refuse to panic but instead buy back as much of their country as they can.


6 posted on 08/08/2018 8:06:02 PM PDT by Rurudyne (Standup Philosopher)
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To: Starboard

Oh, I hope not! The Muslims already have too much influence. Or at least they should divest of all Red States too.


7 posted on 08/08/2018 8:07:08 PM PDT by Rurudyne (Standup Philosopher)
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To: tcrlaf

Canada was dumb enough to back the Muslim Brotherhood over the Saudies. The young Prince is taking massive steps to bring SA into this century at great personal risk to himself. Canada criticism was stupid beyond words.


8 posted on 08/08/2018 8:13:15 PM PDT by McGavin999 ("The press is impotent when it abandons itself to falsehood."Thomas Jeffersons)
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To: tcrlaf

Baby Doc Trudeau is deeply saddened.


9 posted on 08/08/2018 8:23:14 PM PDT by AlaskaErik (I served and protected my country for 31 years. Progressives spent that time trying to destroy it.)
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To: tcrlaf

The Saudis are making an example of Canada lest any other country criticize them.


10 posted on 08/08/2018 8:25:10 PM PDT by Lurkinanloomin (Natural Born Citizen Means Born Here of Citizen Parents__Know Islam, No Peace - No Islam, Know Peace)
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To: tcrlaf

The Saudis are sending a message. Criticize us and you get none of our money. The message is directed to the EU and the US. To the US. Don’t ask too many questions or investigate too deeply Saudi involvement and knowledge of 9/11.

Actually the time has long passed when the US should have severed its relations with the corrupt House of Saud, which in conjunction with Turkey funded and supported ISIS.

The Saudis once tried to strong arm Putin. They told him that if Russia continued to support Assad and fight ISIS, they could not guarantee that there would be no terrorist attacks at the 2014 Winter Olympics being held in Russia. Putin responded by stationing three Russian nuclear submarines off the coasts of Saudi Arabia and informed the Saudis that if there were terrorist attacks, he had no intention of invading Iraq. There were no terrorist attacks at the 2014 Winter Olympics.


11 posted on 08/08/2018 8:26:45 PM PDT by allendale (.)
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To: McGavin999
Canada was dumb enough to back the Muslim Brotherhood over the Saudies. The young Prince is taking massive steps to bring SA into this century at great personal risk to himself. Canada criticism was stupid beyond words.

Exactly. Agreed.
12 posted on 08/08/2018 8:26:50 PM PDT by PA Engineer (Liberate America from the Occupation Media.)
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To: allendale

Wrong. This is all about fighting the Obama/Hillary backed Moslem Brotherhood. The same Moslem Brotherhood that tore Egypt and Libya apart. The same Moslem Brotherhood that was placed into the Five Eyes.


13 posted on 08/08/2018 8:30:01 PM PDT by PA Engineer (Liberate America from the Occupation Media.)
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To: McGavin999

In economic terms, Canada is a pimple on the butt of the world.
It is easy for the Saudi’s to make an example of them, and they are doing it with lots of help from Justine, who just continues to embarrass them.


14 posted on 08/08/2018 8:35:43 PM PDT by tcrlaf (They told me it could never happen in America. And then it did....)
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To: tcrlaf

15 posted on 08/08/2018 8:41:26 PM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
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To: tcrlaf

i have a very strong feeling that President Trump was somehow involved in this ... it could be payback for the Canadian trade war with the U.S. ... Lilliputian Canada REALLY does not need this to be happening right now given their dispute with their Goliath neighbor to the south ...


16 posted on 08/08/2018 8:42:10 PM PDT by catnipman ((Cat Nipman: Vote Republican in 2012 and only be called racist one more time!))
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To: McGavin999
Canada was dumb enough to back the Muslim Brotherhood over the Saudies. The young Prince is taking massive steps to bring SA into this century at great personal risk to himself. Canada criticism was stupid beyond words.

This. I said the same thing the other day. Saudi Arabia has a reformer King, and Canada should have just shut it's f***ing mouth.

These stupid human rights idiots screwed up Iran, Screwed up China (Tienanmen Square) and they have made things much worse in the world than if they had just shut their stupid mouths.

17 posted on 08/08/2018 8:46:24 PM PDT by DiogenesLamp ("of parents owing allegiance to no other sovereignty.")
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To: McGavin999

Appreciate your post based on facts, instead of off the cuff comments.


18 posted on 08/08/2018 8:50:37 PM PDT by entropy12 (1 Mil Daca is the shining object to hide 30 mil low quality LEGAL immigrants in last 25 years)
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To: tcrlaf

Ron Burgundyy said it best “Boy, that escalated quickly. I mean, that really got out of hand fast”


19 posted on 08/08/2018 8:52:14 PM PDT by DAC21
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To: catnipman
i have a very strong feeling that President Trump was somehow involved in this ... it could be payback for the Canadian trade war with the U.S. ... Lilliputian Canada REALLY does not need this to be happening right now given their dispute with their Goliath neighbor to the south ...

If I'm not mistaken, Baby Doc Trudeau has not yet announced that he's "doubling down," as he would if — for example — the United States undertook punitive measures against his country.

Perhaps we've found something that a virtue-signaler won't "double down" on.

20 posted on 08/08/2018 8:52:44 PM PDT by Steely Tom ([Seth Rich] == [the Democrat's John Dean])
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