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Saudi Arabia ends loan and oil supply to Pakistan

Riyadh: In clear statement of growing cordial relationship between Mohammad Bin Salman Crown Prince of Saudi Arabia Prime Minister of India Narendra Modi, Saudi Arabian government has ended a loan and oil supply to Pakistan due to Islamabad’s criticism that the Organisation of Islamic Cooperation (OIC), which is led by Saudi, was not doing enough to pressure India on the Kashmir issue.

Pakistan was recently forced to repay a Saudi loan of USD 1 billion that the kingdom called in after Islamabad insisted it be allowed to lead the OIC’s support for Kashmir.

The loan was part of a USD 6.2 billion package announced by Saudi Arabia in November 2018, which included a total of USD 3 billion in loans and an oil credit facility amounting to USD 3.2 billion. 

Relations between the two countries started to break down when Riyadh turned down Islamabad’s request to convene a special meeting of the OIC’s Council of Foreign Ministers. 

Pakistan has been pushing for the foreign ministers’ meeting of the OIC since India abrogated Article 370, which gave special status to the erstwhile state of Jammu and Kashmir.

Pakistan foreign minister Shah Mehmood Qureshi’s remarks against the Organisation of Islamic Conference led by Saudi Arabia for its so called inaction on the Kashmir issue has strained the relations between Saudi Arabia and Pakistan.

Savio Rodrigues

Savio Rodrigues Founder & Editor-in-Chief
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