Saudi Finance Ministry Denies Threat to Sell European Bonds

The Saudi Ministry of Finance has denied reports that the Kingdom threatened to sell European bonds, emphasizing that its relationships with the G7 and other countries are based on mutual respect.

Bloomberg quoted a ministry statement asserting that no threats were made, and emphasized the ongoing discussion of all issues that promote global growth and the resilience of the international financial system.

This denial came in response to a previous Bloomberg report, which cited sources claiming that Saudi Arabia had privately hinted earlier this year that it might sell some European debt holdings if the Group of Seven decided to seize nearly $300 billion of Russia’s frozen assets.