Saudi Arabia Appears To Be Trying To Tank Canadian Asset Prices

Saudi Arabia Appears To Be Trying To Tank Canadian Asset Prices

Canada sparked fury in Riyadh last week when it called for the "immediate release" of rights campaigners, including award-winning women's rights activist Samar Badawi, the sister of jailed blogger Raif Badawi.

Russian Foreign Ministry spokesperson Maria Zakharova said that human rights should be promoted with respect for specific national customs and traditions.

Almost 100 global students in Waterloo Region could be affected as tensions heat up between Saudi Arabia and Canada. "These issues may require constructive advice and assistance, but it should not come from a commanding tone coming from an alleged moral superiority".

Then on Tuesday, Saudi authorities announced they would halt all medical treatment programs in Canada and transfer Saudi patients to hospitals outside the country.

Barrick co-owns the Jabal Sayid copper mine in Saudi Arabia alongside the predominantly state-owned Saudi Arabian Mining Company (Ma'aden).

Adel al-Jubeir, Saudi foreign minister, said on Wednesday that there would be no new Saudi investment in Canada until the crisis was resolved.




The Kingdom has recalled its ambassador, while at the same time expelling Canada's top diplomat in the country.

Responding to a question about the reason for the arrest of the activists, Jubeir repeated earlier allegations that they had been in touch with foreign entities.

It was unclear how many Saudi patients would be affected by the decision and how many were covered by the kingdom's health care system.

Analysts and regional officials say that Riyadh's actions have little to do with Canada; instead, the kingdom's actions are a broader signal to western governments that any criticism of its domestic policies is unacceptable.

A source at a Saudi bank told Reuters the bank was contacted by the central bank on Wednesday afternoon asking for information about all their Canadian exposure - investments in Canada and foreign exchange positions.

The Canadian dollar plunged on the report, before traders realized the limited scope of the moves. "We are always going to speak up for human rights, we're always going to speak up for women's rights, and that is not going to change".

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