Dubai — Saudi Arabia warned it would retaliate against any sanctions imposed on the oil-rich kingdom over the disappearance of journalist Jamal Khashoggi, as more Western companies distanced themselves from the Gulf state. US President Donald Trump has threatened the kingdom with “severe punishment” if Khashoggi, who has been critical of powerful Crown Prince Mohammed bin Salman, was killed inside its Istanbul mission. But Riyadh vowed to hit back on Sunday against any punitive measures as its stock market tumbled, with the fallout from the crisis threatening to imperil Prince Mohammed’s much-hyped economic reform drive. “The kingdom affirms its total rejection of any threats or attempts to undermine it whether through threats to impose economic sanctions or the use of political pressure,” an official said, according to state news agency SPA. The official said Riyadh would “respond to any action with a bigger one”, pointing out that the oil superpower “plays an effective and vital r...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now