U.S. Senate votes to block Saudi arms sales on UN report/death of Jamal Khashoggi

The South China Morning Post have reported on a UN excoriating 100-page analysis, where the UN’s special rapporteur said that the death of journalist, Jamal Khashoggi, was ‘an international crime’, citing ‘credible evidence’ that Saudi crown prince Mohammed bin Salman could be liable for the killing. 

"The report used recordings of conversations from inside the Istanbul consulate where Khashoggi was killed to piece together the journalist’s final moments. The crown prince of Saudi Arabia should be investigated over the murder of the dissident journalist Jamal Khashoggi because there is “credible evidence” that he and other senior officials are liable for the killing, according to a damning and forensic United Nations report.
In an excoriating 100-page analysis published on Wednesday of what happened to Khashoggi last October, Agnes Callamard, the UN’s special rapporteur, says the death of the journalist was “an international crime”.
“It is the conclusion of the special rapporteur that Mr Khashoggi has been the victim of a deliberate, premeditated execution, an extrajudicial killing for which the state of Saudi Arabia is responsible under international human rights law,” she says.

FX implications

There are no direct implications of such news at this time to the FX space, although there is a focus on the Middle East with geopolitical relations already on tenterhooks between the US, the Saudis and Iran. Risk Fx will be underpinned on escalations of such news.

It should be noted that the Trump administration has blatantly turned a blind eye to this situation, concerned more about the strategical alliance it has with the Saudis. However, overnight, that relationship took a blow when the Republican-led Senate voted Thursday to block $8.1 billion in U.S. arms sales to Saudi Arabia and other Arab allies -  US Legislators are clearly outraged with the kingdom which has delivered a symbolic rebuke to Trump.