Saudi Arabia vows retaliation against U.S. sanction 'threats' following Jamal Khashoggi's disappearance

Saudi Arabia vows retaliation against U.S. sanction 'threats' following Jamal Khashoggi's disappearance

Turkey said Khashoggi was killed in the Saudi consulate in Istanbul, while Saudi Arabia said the journalist left unharmed.

While an earlier generation of Saudi leaders, like Prince Alwaleed bin Talal, invested billions of dollars in blue-chip companies in the United States, the kingdom's new crown prince, Mohammed bin Salman, has shifted Saudi Arabia's investment attention from Wall Street to Silicon Valley.

Threatening to impose economic sanctions and repeating "false accusations" will not undermine the country's standing, said the statement on Saudi Arabia's official press agency, which quoted an "official source".

The director-general of the worldwide monetary Fund (IMF), Christine Lagarde, said on Saturday "horrified" by the case Khashoggi, but has confirmed his participation at the meeting organized by Riyadh.

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Khashoggi, a Washington Post contributor, vanished after entering the consulate on October 2 to obtain official documents for his upcoming marriage.

In a joint statement later Sunday, the foreign ministers of the UK, France and Germany said "light must be shed" on Khashoggi's disappearance.

US President Donald Trump has threatened "severe punishment" if it turned out Mr Khashoggi was killed in the consulate, though he said Washington would be "punishing" itself if it halted military sales to Riyadh, a key ally.

Saudi Arabia has responded by saying it would retaliate against any pressure or economic sanctions "with greater action", and Arab allies rallied to support it, setting up a potential showdown between the global oil superpower and its main Western allies. "We have conveyed this message directly to the Saudi authorities". The kingdom's Government and people are "as glorious and steadfast as ever", it said.

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Saudi Arabia is the world's top oil exporter, and Kudlow was asked on "Fox News Sunday" whether a Saudi response could affect energy prices.

Turkish officials have expressed frustration at the Saudis' level of cooperation, having still not been allowed access to the consulate building, despite promises.

Several individuals and major businesses have distanced themselves from Saudi Arabia and Crown Prince Mohammed Bin Salman, further isolating the Middle East powerhouse that vehemently denies involvement in Khashoggi's alleged murder.

"We are seeing a massive backlash right now on tech companies and investors who are receiving funding from the Saudi Arabian government", Constellation Research's Ray Wang told CNBC.

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