If sanctions are imposed against Saudi Arabia, the country is warning that it will be a financial disaster for the U.S. and other countries, because oil prices with skyrocket.
Source: Washington Post
So now Ford Motor F, +2.14% Chairman Bill Ford and JPMorgan Chase & Co. JPM, -1.04% boss Jaime Dimon have both opted to drop out of that Saudi conference following the country’s suspected role in the disappearance of journalist Jamal Khashoggi.
The high-profile pair is following the lead of several others, including Uber CEO Dara Khosrowshahi, Viacom VIA, +0.22% CEO Bob Bakish and AOL co-founder Steve Case, as well as media organizations like CNN, the New York Times NYT, -1.23% and the Financial Times.
U.S. Treasury Secretary Steve Mnuchin, however, is said to still be planning to attend. That flow of Saudi cash is apparently pretty hard to resist.