Saudi Arabia sees the US as weak
(archive.ph)
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What do you think of the possibility of actions short of sanctions, namely the adding of Aramco Saudi Arabian Oil Corp to the banned investment list alongside the likes of China Telecom?
China Telecom was listed in US stock exchanges, but afaik Aramco is not.
US investors aren't allowed to buy their HK listed equities or ETFs containing them either.
They could do the same here, force the EEM ETF and others to throw out Aramco. It would probably dent their share price for at least a little while.