London-Sana
The British Guardian newspaper confirmed that the financial crisis faced by the Saudi regime and the collapse of oil prices have serious and long-term political repercussions on it, under the rule of Muhammad bin Salman, the crown prince of the regime.
The newspaper pointed out in an article that the Saudi regime is facing an unprecedented budget crisis due to the collapse of oil markets and the global economic turmoil caused by the pandemic of the emerging Corona virus, which reduced the demand for oil in the foreseeable future.
The Guardian pointed out that experts expect this system to be forced to abandon new weapons contracts and delay the purchase of weapons already agreed upon at a time when the financial crisis dominates Saudi Arabia, pointing out that spending on weapons strengthened for decades the political influence of the Saudi regime.
The Guardian pointed out that Saudi Arabia spent about $ 62 billion on arms last year, making it the fifth largest country to spend on weapons in the world, representing about eight percent of Saudi gross domestic product. According to Andrew Weinstein, an expert on corruption and global arms trade, "if it does not Saudi Arabia is by far one of the largest arms buyers, and may not be able to count on the support of strong Western powers, as one of the results of arms purchase is the purchase of relations.
"In the United States, US President Donald Trump has in the past referred to proposed Saudi arms purchases and their impact on increasing US jobs to justify his administration's negative response to the killing of journalist Jamal Khashoggi by the Saudi regime," the Guardian said.
The Saudi regime began some time ago attempts to obtain funds through borrowing in light of the suffocating economic crisis that it is experiencing with the decline in oil prices in the markets and the deficit in its budget for the eighth year in a row with its continuation of its aggressive war on Yemen and its support and financing of terrorist organizations in Syria and its reckless policies in the region. Which drained many of its resources, the largest of which is oil.
