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WSJ: Saudi princes are selling yachts and real estate due to financial problems


Man on the street of Riyadh, Saudi ArabiaMOSCOW, Apr 24 Some princes from the ruling in Saudi Arabia, dynasties are selling real estate and yachts in the US and Europe due to financial problems, the Wall Street Journal writes. According to the sources of the publication, family members are getting rid of their assets outside the kingdom due to the fact that Crown Prince «cut off many of the sources of money they used to support their extraordinary spending habits.» joined Russia, the article points out that they have sold more than $600 million worth of real estate, yachts and art in recent years. Sources say the princes need the money to pay taxes and maintain property, as well as repair the parking of aircraft and ships. In addition, in some cases, members of the dynasty are motivated by the desire to own «less ostentatious assets» so as not to attract too much attention from the crown prince. It is also noted that Prince Bandar bin Sultan, who previously headed Saudi intelligence, sold his estate in the UK in 2021 for $155 million. According to one source, the princes are afraid of Mohammed bin Salman, because they do not work themselves, but maintain a huge staff. Disagreements between the US and Saudi Arabia have reached a peak, media reported

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