Saudi Arabian investors withdraw 200 billion dollars in assets from USA
Saudi Arabia-USA, Economics, 8/22/2002

The British daily Financial Times said Wednesday that the Saudis withdrew some 200 billion dollars of their assets placed in the USA because of fears that the Bush administration will freeze them.

The paper added that the value of the withdrawn sums constitute a large part of the total Saudi investments in the USA estimated between 400- 600 billion dollars.

Analysts at the exchange market said that the current financial moves contributed to weakening the US dollar against other currencies, recently.

There was a rumor at London's stock market that the Saudis are withdrawing part of their allotted investments in the USA of fears that the US judiciary will freeze them.

More than 600 of relatives of September 11 attacks filed civil lawsuits on August 15 against Saudi Arabia and three princes from the Saudi royal family, 7 international banks and 8 Islamic charity organizations and several suppliers over the charges of secret financing of al-Qaida organization.

Previous Stories:
  Saudis want to withdraw investments from US   (8/19/2002)
  US - Saudi trade down 40% due to strained relations   (7/6/2002)
  Saudi - US trade cooperation   (3/4/2002)

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