03:50 GMT +316 February 2019
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    Stratfor: Reforms Failure Threatens Riyadh More Than Fallout With US

    © AFP 2018 / HASSAN AMMAR
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    The failure of the Saudi government to implement economic reforms would have far more reaching consequences for the country than potential freeze of Riyadh’s assets by the United States, the US-based intelligence assessment company Stratfor said in a report on Tuesday.

    WASHINGTON (Sputnik) — In March, Saudi Arabia threatened to sell approximately $750 billion worth of American assets if the US Congress passes the legislation allowing families of victims of the September 11, 2001 terrorist attacks to sue the Saudi authorities due to denied government immunity.

    "In the unlikely event that the United States were to seize or freeze a small amount of Saudi Arabia's assets, Riyadh would survive," the report stated. "The country faces a far greater threat if it fails to implement much-needed domestic economic reforms."

    The Obama administration has been warning lawmakers of the potential economic fallout that could follow passing the legislation, according to media reports.

    Stratfor said Saudi Arabia will undermine its own efforts to boost confidence in the country’s economy, if it decides to get rid of US assets.

    "Riyadh is already encountering significant social and political resistance to its planned reforms while foreign investors are still sizing them up," the report added.

    The official support by the Saudi government for the September 11 terrorists is allegedly detailed in 28 classified pages of the 2002 US joint congressional inquiry report into the terrorist attacks.

    On Monday, White House Press Secretary Josh Earnest said President Barack Obama would not sign the current draft of the September 11 bill.


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    economic reforms, Stratfor, United States, Saudi Arabia