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Saudis Threatened To Sell European Bonds If Russian Assets Were Confiscated
Jul 10, 2024 11:05:53   #
Ri-chard Loc: 23322
And it won.

In a fascinating geopolitical development, Bloomberg reports that Saudi Arabia privately hinted earlier this year it would sell some (or all) of its European debt holdings if the G-7 confiscated Russia's frozen assets. As a reminder, we noted in May the European Union had approved a US-backed plan to use profits and interest generated from Russian assets to help arm Ukraine; however that was a sharp reversal from the previously proposed plan - one which was heavily promoted by Zelensky and Ukraine - to confiscate some $300 billion in Russian assets. Many were wondering what prompted the reversal.

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