(Mar 9): Saudi Crown Prince Mohammed bin Salman’s dramatic one-two punch against perceived rivals at home and abroad is sending shock waves through the royal family, fuelling turmoil in global markets and underscoring the de-facto ruler’s own concerns about his grip on the oil-rich kingdom.
On Friday, Saudi authorities rounded up the brother and a nephew of Prince Mohammed’s father, King Salman bin Abdulaziz, on the grounds they were plotting a coup, according to a person familiar with the matter. The next day, the world’s largest oil exporter slashed prices for its crude by the most in more than 30 years, triggering a price war with Russia that threatens to roil a world economy already grappling with the coronavirus outbreak.
