Saudi Arabia sided with russia on the issue of confiscation of frozen assets

Saudi Arabia is threatening to sell European debt if the G7 member states decide to confiscate nearly $300 billion in frozen russian assets.

In particular, the Ministry of Finance informed some G-7 partners about its disagreement with this idea, which was intended to support Ukraine.

As noted in the publication, the Saudis specifically mentioned the debt issued by the French treasury.

Bloomberg explains that the Saudi kingdom's holdings in euros and French bonds may amount to tens of billions of euros, but they are probably not large enough for their sale to be meaningful.

However, European officials are still concerned that other countries may follow Saudi Arabia's example.

It is also noted that Saudi Arabia owns $135 billion in US Treasury bonds.

Source: Bloomberg