Saudi Arabia has warned the Obama administration that it will sell off $750 billion worth of American assets held by the kingdom if Congress passed a bill declaring Saudi government responsible for September 11, 2001, attacks, a report published by The New York Times said.
“The Obama administration has lobbied Congress to block the bill’s passage,” the NYT quoted administration officials and congressional aides as saying, with officials warning senators of “diplomatic and economic fallout” from legislation.
Threats from the kingdom have been the subject of “intense” discussion between lawmakers and officials from the US State Department and the Pentagon, the report said.
According to the NYT, Saudi foreign minister Adel al-Jubeir delivered the kingdom’s message personally during his visit to Washington last month.
“Adel al-Juberi told the American lawmakers that Saudi Arabia would be forced to sell off $750 billion in treasury securities and other assets in the United Statesbefore they could be in danger of being frozen by American courts,” the report further stated.
However, several economists think that such a move by the kingdom would be difficult to take and that it may “end up crippling the country’s economy”.
