Turkey suffers economic pressure from Saudis

The tensions between Turkey and Saudi Arabia have spread to the economic sphere, according to a report by the US Monitor website.

Riyadh Chamber of Commerce and Industry warned Saudis against investment in Turkey, as the head of the Riyadh Chamber of Commerce, Ajlan al-Ajlan, who is the head of the Group of Companies (Ajlan and his brothers), one of the largest investment and commercial groups in the Kingdom of Saudi Arabia published on the social networking site "Twitter" warnings about the risks of doing business in Turkey.

He said his companies had received numerous complaints from Saudi investors who said their assets were under threat, and Turkish authorities were not doing enough to protect them.

Al-Ajlan referred to what he called the turbulent security climate in Turkey and said Saudi businessmen had been blackmailed by "influential entities there" and that Saudi tourists faced "increasing cases of harassment and fraud."

The relations between Ankara and Riyadh began to worsen, especially after the killing of Saudi journalist Jamal Khashoggi and the frenzied campaign led by Turkey to accuse the Saudi crown prince of the crime.

At first, the crown prince sought to defuse the crisis, telephoned Erdogan and sought to meet him. But Turkey continued its efforts to discredit Bin Salman ostensibly in the hope that the United States would turn its back on him, so that the crown prince was at war with Ankara.

Nayef Madkhali, who has more than half a million followers on Twitter among a number of pro-government users who led the charge against Turkey. This week, offers were made to help Saudi tourists to go to Muslim-majority destinations like Azerbaijan or Bosnia if they cancel their plans to go to Turkey.

US Monitor indicates that Ankara's fuss for Khashoggi began to fade as its economy continued to decline amid the devaluation of the Turkish lira, and the high energy bill exacerbated by US sanctions on Iran.

Gonul Tul, the director of the Turkey program at the Middle East Institute believes that Turkey's retreat from Khashoggi's case may be linked to its increasingly fragile financial resources.

"The crisis between Turkey and Saudi Arabia is very serious and Turkey is the hardest-hit," Toll told the Monitor.

Among the Gulf states, Saudi Arabia is one of the largest investors in Turkey and the latter, according to "Monitor" is very afraid of losing Saudi money, especially at a time when it suffers economically.



Other news