{UAH} Saudi Arabia to dump Canadian assets 'no matter the cost' as diplomatic rift spirals – report

Edmund/ Alan Barigye/Moses Nekyon/ Akim Jags Odong,

Saudi Arabia has Canada's Justin Trudeau in a hammer lock, but where are the Canadians? It looks like Ugandan-Canadians are fair weather friends, and Justin Trudeau is learning the hard way that citizenship means very little to these Ugandan asylum seekers. Religion is more important to them than patriotism. Look at your regular punching bag, old fart Edward Mo  Irundrua, an irascible ingrate who simply  does not want to know about the fix Canada is in, and prefers to continue writing nonsense about America when his own country is under attack. The fact that Canada is being ruthlessly bullied by  Saudi Arabia, supported by most of the muslim countries, has still not registered in the mind of the irascible Canadian. Irundrua has turned his back on Canada, just as he turned his back on his own Nubian people of Sudan. What a pity the man still keeps prating that he is an American, when a country that has wiped the shit from his bum is being threatened, pilloried and  bullied. Canada is now isolated internationally as none of its allies have come to its aid- partly because of Justin Trudeau's previous record of molly coddling and cavorting with Islamic terrorists. Canada has had to come crawling on its knees, crying like a baby,  to Her Majesty's government, to ask for support against this full scale attack by the muslim nations. Irundrua and the other Ugandan- Canadians meanwhile simpley hide their heads in the sand, merilly singing " DONT WORRY, BE HAPPY"  What a sad lot!!!

Bobby

Saudi Arabia to dump Canadian assets 'no matter the cost' as diplomatic rift spirals – report — RT Business News

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Saudi Arabia to dump Canadian assets 'no matter the cost' as diplomatic rift spirals – report

Published time: 8 Aug, 2018 13:08 Edited time: 9 Aug, 2018 08:45

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© Blair Gable / Reuters

Saudi Arabia is selling off Canadian securities in response to Ottawa's criticism of the arrest of a female activist, the Financial Times reports. Riyadh says it's ready to take the step despite possible financial losses.

According to the newspaper, Saudi Arabia's overseas asset managers were told to dump Canadian equities, bonds and cash holdings "no matter the cost." Saudi Arabia is not a major investor in Canada, according to the FT source, but the Kingdom wants to send a strong signal to authorities in Ottawa.

Read more

Saudi airline stops flights to Canada amid escalating diplomatic row

The diplomatic rift between the two countries began after Canadian Foreign Minister Chrystia Freeland demanded the release from prison of Saudi women's rights activist Samar Badawi, who has family in Canada.

Riyadh said the Canadian demand was "a blatant interference in the Kingdom's domestic affairs, against basic international norms and all international protocols."

"The Kingdom views the Canadian position as an affront to the Kingdom that requires a sharp response to prevent any party from attempting to meddle with Saudi sovereignty," according to a statement by the Saudi Foreign Ministry.

On Tuesday, Saudi Arabia's national airline Saudia halted all direct flights to and from Toronto following Canada's intervention. Toronto is the only Canadian destination Saudia serves.

Saudi Arabia has ordered all Canadian grain purchases to be stopped, adding it will no longer buy Canadian-origin grains. The Saudi government has also stopped all medical treatment programs in Canada and moved Saudi scholarship recipients to other countries. The Canadian dollar reacted negatively to the news, declining 0.12 percent against the US dollar to just under 0.77 cents.

Saudi Arabia has already expelled the Canadian ambassador.

For more stories on economy & finance visit RT's business section

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