Saudi stocks plummet following Yemeni strikes on Yanbu

0
65

Al-Thawra Net

The main stock exchanges in Saudi Arabia have continued their heavy losses for the second day in a row, after it had been affected by the recent attacks on Aramco facilities in Yanbu.

The Saudi Stock Exchange index declined by 0.3% due to the decrease in shares of Saudi Telecom Company by 2%, in addition to the decrease in shares of National Commercial Bank by 1.3%, which is the largest bank in the Kingdom.

The Saudi Aramco facilities in the industrial city of Yanbu were targeted last Friday by Yemeni missiles and drones in the so-called Third Operation of Balanced Deterrence.

Yanbu port exports 3 million barrels of oil per day, and is located over 1,000 km from the Yemeni border.

Armed Forces Spokesman Brigadier General Yahya Sare’e, said on Friday that, “The Third Operation of Balanced Deterrence is a natural and legitimate response to the crimes of aggression, the latest of which was the crime against citizens in Al-Jawf.”

The Armed Forces Spokesman vowed to the Saudi regime that painful strikes will continue to take place if Riyadh continues its aggression and siege on Yemen.