OIL CRISIS: US sanctions could spark ‘economic DISASTER for entire world’

US SANCTIONS against Saudi Arabia could spark a worldwide economic disaster, a Saudi media boss has warned, at a time when tensions between the Middle Eastern country and the West have soared over the disappearance of Saudi journalist Jamal Khashoggi.

Turki Aldakhil, general manager of Saudi Arabia-based broadcaster Al Arabiya, claimed oil prices could jump if US President Donald Trump imposes sanctions on the country.

The move would “rock the entire world”, Mr Aldakhil threatened.

Writing for Al Arabiya yesterday, Mr Aldakhil said: ”If US sanctions are imposed on Saudi Arabia, we will be facing an economic disaster that would rock the entire world.





But Saudi Arabia is preparing a report that would admit Mr Khashoggi was killed by accident during an interrogation, according to CNN.

Donald Trump

Donald Trump previously warned of “severe punishment” against Saudi Arabia (Image: GETTY)

Jamal Khashoggi

Jamal Khashoggi disappeared on October 2 after entering the Saudi consulate in Turkey (Image: GETTY)

And The New York Times reported that Prince Mohammed bin Salman had approved an interrogation or rendition of Mr Khashoggi back to Saudi Arabia. It said the Saudi government would blame someone else to protect the Crown Prince.

Mr Trump previously warned of “severe punishment” against Saudi Arabia if Mr Khashoggi was killed in the embassy. And Britain, France and Germany said they were treating the case with "the utmost seriousness".

The US President said on Monday he had spoken to Saudi Arabia’s King Salman about the incident, suggesting that "rogue killers" could be responsible.

Mr Trump said to reporters at the White House: "The king firmly denied any knowledge of it.

"He didn't really know, maybe - I don't want to get into his mind but it sounded to me - maybe these could have been rogue killers. Who knows?"

Mr Trump has sent US Secretary of State Mike Pompeo to Saudi Arabia to meet the King.

Speaking on Twitter, Mr Trump said: “Just spoke to the King of Saudi Arabia who denies any knowledge of whatever may have happened 'to our Saudi Arabian citizen'.


The incident has prompted a number of media and business executives to pull out of an investment conference in Saudi Arabia this month.

But Saudi Arabia has strongly denied the accusations, vowing to retaliate with “greater action”.

According to the Saudi Press Agency, an official said: "The Kingdom affirms its total rejection of any threats and attempts to undermine it, whether by threatening to impose economic sanctions, using political pressures, or repeating false accusations.


A joint Turkish-Saudi team has entered the Saudi consulate in Turkey today to conduct a search, according to Reuters.