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Arrests And Development
Saudi Arabia Has Its Own Way of Draining the Swamp
From the perspective of outside investors and anyone interested in oil markets, the crackdown constitutes a double-edged sword.
By Liam Denning
November 5, 2017, 12:37 PM PST
Photographer: Simon Dawson/Bloomberg
Saudi Arabia’s millennial-in-chief has reached the move-fast-and-break-things phase.
Prince Mohammed bin Salman’s Saturday night roundup of dozens of prominent royals and officials -- all under the auspices of the king he may succeed within months -- is actually a natural, if jarring, progression.The prince’s consolidation of power has been evident since June at least, when former Crown Prince Mohammed bin Nayef was taken out of the line of succession and replaced as interior minister.
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Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.
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