The Saudi cabinet hailed on Tuesday the imposing of sanctions on 25 corporations, banks and individuals linked to Iran’s support for militant networks, including the Hezbollah party.
Custodian of the Two Holy Mosques King Salman bin Abdulaziz presided over the cabinet meeting that was held in Riyadh.
The sanctions, said the cabinet, reflects the effective cooperation between the United States and the Terrorist Financing Targeting Center (TFTC) nations that include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
The sanctions were announced by the US Treasury last week. All 25 targets were previously under sanctions by the United States.
King Salman kicked off the cabinet meeting by briefing the ministers on the discussions he held with Brazilian President Jair Bolsonaro, Kenyan President Uhuru Kenyatta, Nigeria’s President Muhammadu Buhari and former British Prime Minister David Cameron.
The cabinet highlighted Saudi Arabia’s hosting last week of the third edition of the Future Investment Initiative (FII). The three-day event was attended by world leaders, businessmen and policy-makers to tackle the future of the global economy and investment opportunities.
The cabinet also hailed Saudi Aramco’s announcement Sunday that the company will launch its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).
