The Saudi crown prince’s actions in the killing of journalist Jamal Khashoggi might have left the kingdom’s sovereign wealth fund vulnerable to consequences, according to a former leading diplomat in the Obama administration.
The Biden administration on Friday released a previously classified intelligence report that assessed Mohammed bin Salman of Saudi Arabia approved the plan to assassinate Khashoggi in 2018.
The Saudi sovereign wealth fund, known as the Public Investment Fund, is chaired by MBS. It appears to have played a role in purchasing the aircraft that ferried Khashoggi’s killers to Turkey, where the murder occurred.
Shortly after the release of Friday’s intelligence report, Secretary of State Antony Blinken announced that the U.S. banned 76 people from Saudi Arabia. He called it the “Khashoggi Ban.”
Blinken added that the U.S. will not tolerate individuals who threaten or assault activists, dissidents and journalists on behalf of foreign governments. There was, however, no direct action taken against MBS. The Saudi government rejected the findings of the U.S. report.
Sovereign wealth funds are prevalent among oil-rich countries. They provide a haven where countries can stockpile significant wealth, and store that money in a self-controlled coffer.
As Published by CNBC
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