It should be recalled that the day before, Saudi Arabia threatened to sell European securities if the G7 countries decide to seize Russia’s frozen assets. In particular, according to media reports, the Saudis mentioned debts issued by the French Treasury.
On his Telegram channel, Pushkov described the storm as serious. In this case, he said, Riyadh’s move could trigger a “domino effect” from other states in the non-Western world.
“The leading country of the Global South is against global arbitrariness,” the Russian senator concluded.
According to Bloomberg, Riyadh may hold tens of billions of euros worth of French bonds, which would not be enough to make a big difference if they were sold. But European officials are concerned that other countries could follow Saudi Arabia’s lead.
Earlier, the head of the International Monetary Fund (IMF) mission in Ukraine, Gavin Gray, warned that the West’s decision to use the proceeds from frozen Russian assets to help Kiev threatens the functioning of the international monetary system due to the lack of a legal framework.
