27.04.2022, Moscow.
Saudi royal families sell houses, yachts and art. The Wall Street Journal writes that they have already sold more than $600 million worth of assets in the USA and Europe.
The Wall Street Journal explains that Crown Prince of Saudi Arabia Mohammed bin Salman exerted significant pressure on the relatives by limiting income at the expense of the state and cutting the benefits they had. Now the relatives are literally forced to sell their last palace and yacht.
However, it’s not all that trivial. The Saudi elite is used to investing rather than working, and they know where they can get more profit.
The former ambassador to Washington Prince Bandar bin Sultan was once one of the most powerful men in Saudi Arabia. His spokesman said that the prince sold all his assets abroad “because he saw more advantages for investing in the kingdom.”
It turns out that by imposing sanctions against Russia, the USA and the West increased the risks of investing not only in Russia, but in assets across Europe and even in the USA. Now the largest investment funds have turned their eyes to the East and are looking for opportunities to invest in assets of the Gulf monarchies that are getting rich from oil and gas exports. Now the princes themselves started to do this.
Translated from https://t.me/shotday/248
