Saudi Arabia is re-evaluating its multibillion-dollar U.S. financial strategy because of shifts in the American political landscape, including whether to go elsewhere with the public stock debut of its state oil company, according to people involved in the planning.
Two events—the recent passage of legislation that could allow U.S. terror victims to sue Saudi Arabia and the election of Donald Trump, a vocal supporter of the bill—prompted the reassessment by senior Saudi officials and outside advisers, people involved in the discussions said, Wall Street Journal reported.
Saudi Arabia’s sovereign-wealth fund has already paused its U.S. investments until they can figure out the implications of the bill and the new direction of the White House, said a person familiar with the fund’s decision making.
