The Federation of Saudi Chambers announced the cessation of all commercial dealings with Lebanon.
Ajlan Al-Ajlan, head of the Federation of Saudi Chambers, said that all national companies have halted all their dealings with Lebanese companies.
He explained that this comes in response to what he described as justification and blessing from the Lebanese government for terrorist acts targeting Saudi Arabia economically and socially.
Al-Ajlan declared in his statement that all Saudi companies will not deal with any Lebanese company or any economic sector in Lebanon.
“The Saudi companies won’t deal with the Lebanese government as well, which justified the terrorist attacks with bombed planes on the Kingdom,” said Al Ajlan.
Regarding Saudi investors in Lebanon, Al-Ajlan affirmed that the suspension of cooperation includes all economic, commercial, and investment levels.
“It is illogical for the Lebanese government to continue to encourage terrorist acts and flood the Saudi market with drugs, and that there is no action, especially since the Saudi government has cooperated with the relevant authorities in Lebanon to stop these acts in order to preserve the interests of the Lebanese people,” added Al-Ajlan.
With this step, the Lebanese economy will lose about $220 million of the total value of exports to countries of the world.
The Lebanese agricultural sector will decline by almost $92 million, whereby the industrial sector by almost $97 million.
These come in line with the severe measures imposed by Saudi Arabia on Lebanon, which included giving the Lebanese ambassador 48 hours to leave the KSA, recalling its envoy from Beirut, halting all imports from Lebanon, and announcing that they have no interest in relations with Lebanon.