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US Courts May Freeze Saudi Assets Over 9/11 Bill

US Courts May Freeze Saudi Assets Over 9/11 BillUS Courts May Freeze Saudi Assets Over 9/11 Bill

Saudi Arabia has warned the Obama administration that it would be forced to sell off hundreds of billions of dollars’ worth of American assets if US Congress passes a bill allowing the Saudi government to be held responsible by American courts for any role in the September 11, 2001 attacks.

The move would likely disrupt global markets and destabilize the US dollar, with which the kingdom’s own currency is linked, i24news reported.

While the Obama administration has tried to block the bill’s passage in Congress, the State Department and Pentagon officials have over recent weeks held deep discussions over the possible consequences of a major diplomatic and economic fallout with the Saudis if the legislation passes.

The proposed legislation could allow American courts to freeze US assets held by the Saudis, prompting the possibility of a major sell-off before the bill is passed.

Financialtribune.com