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Saudis threaten sell-off of U.S. assets if 9/11 suits are allowed

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Saudi Arabia has warned the United States not to revoke its sovereign immunity, protecting the kingdom from lawsuits related to Sept. 11, or it will sell off hundreds of billions in American assets.

A bipartisan law sponsored by Sens. Chuck Schumer, D-N.Y., and John Cornyn, R-Texas, is being considered in the Senate, that would strip the Saudi government of its protection from American lawsuits in federal court. If enacted, the legislation would open a floodgate of civil suits against the Saudi government from families of the Sept. 11 victims.

A recent lawsuit filed in federal district court in New York by Sept. 11 families was dismissed on sovereign immunity grounds.

Saudi Arabia has never been formally linked to the 2001 terrorist attacks in New York and Washington, but 15 of the 19 hijackers were from there…

Read the full story at UPI, by Eric DuVall

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