Saudi Arabia Punishes Canada for Criticizing Human Rights Defenders' Arrests

Saudi Arabia ETF Could Be Pressured as Row with Canada Escalates

Saudi Arabia ETF Could Be Pressured as Row with Canada Escalates

As tensions continue to build between Canada and Saudi Arabia over the release of detained civil rights activists, the kingdom has announced it has ended all medical treatment programs in Canada.

The clash between the two countries began last Thursday when the Canadian government posted a tweet expressing concern over Riyadh's arrest of two women's rights activists.

Jubeir added that Saudi Arabia was "considering additional measures" against Canada, without elaborating.

"Therefore, Canada must correct its actions towards the kingdom".

The Saudi Arabian regime triggered a sell off of Canadian assets on Tuesday morning, amid an escalating row between the two nations over human rights.

Saudi's asset sales may not have a big impact on the Canadian currency, although thin trading during the summer holiday could exacerbate that effect.

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Recall that President Hassan Rouhani of Iran had earlier warned the United States against any attempt to stop Tehran's oil trade. China's market declines weaken that nation's bargaining power in the escalating trade war , he added.

Saudi Arabia frequently uses capital punishment, which can be issued for crimes like homosexuality or anti-government activities, though crucifixions are rare.

Crown Prince Mohammed bin Salman recently went on a global tour touting proposed economic reforms and promoting his vision for the kingdom as "the next Europe".

Canadian investments in Saudi Arabia were still ongoing and would not be affected by the dispute, he said.

The decision to freeze new trade agreements could threaten Canada's $15-billion arms deal that includes providing armoured vehicles to the kingdom, but Foreign Affairs Minister Chrystia Freeland said it was "premature" to comment on its status.

European traders said Saudi Arabia's main state wheat buying agency, the Saudi Grains Organization (SAGO), has told grains exporters it will no longer accept Canadian-origin grains in its worldwide purchase tenders. On Tuesday, Minister of Education Dr. Ahmed Al-Eissa assured Saudi scholarship students in Canada that the Kingdom has worked to provide all facilities for an easy transfer to universities in other countries. Saudi state airline Saudi said it was suspending flights to and from Toronto. Saudi central bank and state pension funds told their overseas asset managers to unload Canadian bonds, stocks, and cash holdings "no matter the cost", the report said.

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