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Prince Alwaleed cancels plan to invest in Iran
(MENAFN- Arab News) JEDDAH: Prince Alwaleed bin Talal said on Tuesday he had canceled his plans to invest in Iran following Riyadh's move to cut its diplomatic relations with Tehran.
Writing in his twitter account Alwaleed said he had rejected a request by the Iranian ambassador in Saudi Arabia for a meeting.
He said he also stopped all Flynas flights to Iran. Kingdom Holding which Prince Alwaleed chairs owns 34 percent of the budget carrier.
The prince did not elaborate on what his investment plans for Iran were in the tweet.
Saudi Arabia severed diplomatic ties on Sunday and froze commercial ties with Iran the following day after Iranian fanatics stormed the kingdom's embassy in Tehran and consulate in Mashad in response the execution of Saudi Shiite radical Nimr Al-Nimr.
Bahrain the United Arab Emirates Kuwait Jordan and Egypt have thrown their support behind Saudi Arabia.
At the same time the Arab League denounced the attacks on the diplomatic missions and reminded Iran of the importance of "not interfering in the internal affairs of an Arab nation" according to a statement carried by Egypt's official MENA news agency.
Writing in his twitter account Alwaleed said he had rejected a request by the Iranian ambassador in Saudi Arabia for a meeting.
He said he also stopped all Flynas flights to Iran. Kingdom Holding which Prince Alwaleed chairs owns 34 percent of the budget carrier.
The prince did not elaborate on what his investment plans for Iran were in the tweet.
Saudi Arabia severed diplomatic ties on Sunday and froze commercial ties with Iran the following day after Iranian fanatics stormed the kingdom's embassy in Tehran and consulate in Mashad in response the execution of Saudi Shiite radical Nimr Al-Nimr.
Bahrain the United Arab Emirates Kuwait Jordan and Egypt have thrown their support behind Saudi Arabia.
At the same time the Arab League denounced the attacks on the diplomatic missions and reminded Iran of the importance of "not interfering in the internal affairs of an Arab nation" according to a statement carried by Egypt's official MENA news agency.
(Additional input from Reuters)
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