Saudi Arabia has threatened to sell US Treasury bonds with an estimated value of over $100 billion if the US Congress passes legislation opposing OPEC.
This occurred amid tense ties between Riyadh and Washington following the Kingdom’s decision and the countries of the OPEC+group’s decision to drop output by two million barrels, an American daily stated, citing persons familiar with the situation.
The “Wall Street Journal” stated that Saudi officials have secretly said that the kingdom could sell American treasury bonds that Riyadh keeps the Congress against OPEC legislation against OPEC.
The publication claims that this paper is one of the radical options under consideration for the reevaluation of Saudi Arabia’s and the United States’ diplomatic ties.
According to sources cited by the newspaper, Washington downplayed the extent to which Saudi Arabia was assisting Ukraine and was taken aback by the American response to the “OPEC decision” + after Saudi officials met with American think tanks and officials. The Saudis are aware that they cannot replace the United States as a security partner over night.
Data from the US Treasury show that the Kingdom owned 122. 1 billion dollars’ worth of US Treasury bonds and bills in August of last year; by way of comparison, Riyadh had 119. 2 billion dollars at the start of this year.
According to data, Saudi Arabia is listed as the sixteenth largest holder of US Treasury bonds.
Wall Street Journal is the source.
Wall Street Journal: Saudi Arabia is well known for a paper with more than $100 billion aimed at the US
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