ISSN 2330-717X

Saudi Arabia Insists 9/11 Bill Could Erode Investor Confidence

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Saudi Arabia has warned the US that a proposed US law that could hold the Kingdom responsible for any role in the Sept. 11, 2001, attacks would erode global investor confidence in America.

Foreign Minister Adel Al-Jubeir denied that Saudi Arabia had “threatened” to withdraw investment from its close ally.

The New York Times reported last month that the Saudi government had threatened to sell up to $750 billion worth of American assets should the US Congress pass a bill that would take away immunity from foreign governments in cases arising from a “terrorist attack that kills an American on American soil.”

“We say a law like this would cause an erosion of investor confidence. But then to kind of say, ‘My God the Saudis are threatening us’ — ridiculous,” Al-Jubeir said. “We don’t use monetary policy and we don’t use energy policy and we don’t use economic policy for political purposes. When we invest, we invest as investors. When we sell oil, we sell oil as traders.”

Asked whether Saudia Arabia had suggested the law could affect its investment policies, Al-Jubeir said: “I say you can warn. What has happened is that people are saying we threatened. We said that a law like this is going to cause investor confidence to shrink. And so not just for Saudi Arabia, but for everybody.”

Meanwhile, CIA Director John Brennan said a secret section of the 9/11 Commission Report that contains “uncorroborated, unvetted” information should not be released.

He voiced support for keeping the “28 pages” in the 2004 text from the public domain for fear of fueling unfounded rumors.

He maintained the inquiry into 9/11 “came out with a very clear judgment that there was no evidence that the Saudi government as an institution, or Saudi officials or individuals, had provided financial support to Al-Qaeda.

Brennan also maintained America had a “very strong” relationship with Saudi Arabia.”

He said: “I think some people may seize upon that uncorroborated, unvetted information…to point to Saudi involvement, which I think would be very, very inaccurate,” he said.

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Arab News

Arab News is Saudi Arabia's first English-language newspaper. It was founded in 1975 by Hisham and Mohammed Ali Hafiz. Today, it is one of 29 publications produced by Saudi Research & Publishing Company (SRPC), a subsidiary of Saudi Research & Marketing Group (SRMG).

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