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US imposes trade sanctions on Saudi Arabian officials - Reuters

As reported by Reuters, the US has imposed trade sanctions on Saudi Arabian officials in response to the slaying of US resident Jamal Khashoggi, a journalist who was openly critical of the Saudi royal family.

Key quotes

"The United States imposed economic sanctions on 17 Saudi officials on Thursday for their role in the killing of Saudi journalist Jamal Khashoggi, as Saudi Arabia’s public prosecutor sought the death penalty for five suspects in the murder.

The U.S. Treasury Department sanctions were the first concrete response by the Trump administration to Khashoggi’s death in the Saudi consulate in Turkey in October.

The measure was unusual for Washington, which rarely imposes sanctions on Saudi nationals. The sanctions do not target the Riyadh government, an important U.S. security and economic ally.

It also allows the administration to stop short of action that might affect lucrative U.S. arms deals with Saudi Arabia that President Donald Trump has vowed to preserve.

The sanctions limit access to the U.S. financial system and freeze people’s assets. They will be implemented under an act which targets perpetrators of serious human rights abuses and corruption."

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Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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