Businesses suspend ties with Saudi Arabia
LONDON – Global business leaders are reassessing their ties with Saudi Arabia, stoking pressure on the Persian Gulf kingdom to explain what happened to a dissident writer who disappeared after visiting its consulate in Istanbul.
British billionaire Richard Branson on Friday suspended business links with Saudi Arabia, and Uber CEO Dara Khosrowshahi said he might not attend an investment conference in the country this month amid reports that Jamal Khashoggi may have been killed at the Saudi consulate in Turkey’s capital.
“What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi government,” Branson said in a statement.
Branson, founder of Virgin Group, says he will suspend his role as director in two tourism projects in Saudi Arabia while an investigation takes place. He is also putting on hold discussions about a proposed Saudi investment in space companies Virgin Galactic and Virgin Orbit.
Saudi Arabia is facing increasing international pressure to clarify what happened to Khashoggi, a Washington Post columnist.
Khosrowshahi is scheduled to speak at the Future Investment Initiative conference, which takes place Oct. 23-25 in the Saudi capital, Riyadh.
“I’m very troubled by the reports to date about Jamal Khashoggi,” Khosrowshahi said. “We are following the situa-
tion closely, and unless a substantially different set of facts emerges, I won’t be attending the FII conference in Riyadh.”
The investment conference lists dozens of expected speakers, including JPMorgan Chase CEO Jamie Dimon, Blackrock Chairman Larry Fink and U.S. Treasury Secretary Steve Mnuchin, the latter confirming Friday that he will go.
“I am planning on going at this point,” he told broadcaster CNBC. “If more information comes out and changes, we could look at that.”
Joe Kaeser, the president and CEO of German industrial giant Siemens AG, also still plans to attend.
The Financial Times, which is listed as a media partner to the event, announced it would no longer be doing so.
“The Financial Times will not be partnering with the FII conference in Riyadh while the disappearance of journalist Jamal Khashoggi remains unexplained,” Finola McDonnell, the head of communications, said in a tweet.
CNN canceled its partnership, and said its anchors and reporters would no longer moderate panels. The New York Times and its business columnist Andrew Ross Sorkin similarly pulled out of the event.