Saudis Threatened to Sell European Bonds if Russian Assets Were Confiscated

from Zero Hedge

In a fascinating geopolitical development, Bloomberg reports that Saudi Arabia privately hinted earlier this year it would sell some (or all) of its European debt holdings if the G-7 confiscated Russia’s frozen assets.

As a reminder, we noted in May the European Union had approved a US-backed plan to use profits and interest generated from Russian assets to help arm Ukraine; however that was a sharp reversal from the previously proposed plan – one which was heavily promoted by Zelensky and Ukraine – to confiscate some $300 billion in Russian assets. Many were wondering what prompted the reversal.

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