⚡Saudi Arabia Threatened to Dump Billions in European Debt Over Russian Asset Seizure - Bloomberg
According to Bloomberg, Saudi Arabia privately indicated earlier this year that it might sell some European debt holdings if the G7 decided to seize nearly $300 billion of Russia's frozen assets. The kingdom’s finance ministry expressed its opposition to this idea, which was intended to support Ukraine, to some G7 counterparts.
The sources suggested that Saudi Arabia's stance influenced these countries. They preferred to remain anonymous. While the kingdom's holdings in euro and French bonds could total tens of billions of euros, they might not cause a major impact if sold. European officials were concerned about the possibility of other countries following Saudi Arabia's lead.