Saudi-Canada Fight Shows Need for More Pipelines, Oil Group Says

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According to a report in the Financial Times, Saudi Arabia has started selling Canadian assets en masse, including stocks and bonds.

The dispute began after a tweet by the Canadian foreign ministry on Friday, in which it expressed "concerns" over the arrests of civil and women's rights activists in the Kingdom and called for their immediate release.

Russian Federation has said that Saudi Arabia has the right to reject Canada's interference and to express its annoyance at the "commanding tone" coming from a perceived position of moral superiority.

A fresh escalation of the row emerged on Tuesday.

The escalating trade battle between Canada and Saudi Arabia highlights the need for more pipelines to move oil and natural gas around the northern nation to improve its energy security, according to the Canadian oil industry's largest trade group.

The Canadian dollar weakened to a two-week low against its US counterpart on Wednesday as oil prices fell and after the FT report.

The Saudi government on Wednesday ordered some 16,000 Saudi students in Canada to pack their stuff and made arrangements for their relocation, whether they received government funding or not.

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Crown Prince Mohammed bin Salman recently went on a global tour touting proposed economic reforms and promoting his vision for the kingdom as "the next Europe". Riyadh said Ottawa was interfering in its internal affairs.

The Kingdom of Saudi Arabia put a man to death on a cross in the holy city of Mecca on Wednesday, while waging a public relations battle to call out alleged human rights violations in Canada.

The kingdom has taken several measures to punish Ottawa.

Saudi Arabia is now coordinating for the transfer of all Saudi patients from Canadian hospitals to other facilities outside of the country, according to a report from the Saudi Press Agency.

Saudi students in Canadian universities have been given four weeks to pack their bags and leave the country as their scholarships have been suspended.

Travel to the country will also be affected in light of an announcement from Saudia Airlines on Tuesday that it will suspend flights to and from Canada starting August 13.

Canada's Prime Minister Justin Trudeau is expected to hold a news conference in Montreal. Canadian exports to Saudi Arabia were about $1.12 billion in 2017, or 0.2 percent of the total value of Canadian exports.

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