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Why oil collapse is forcing Saudi Arabia to cut back on its checkbook diplomacy

On March 5, Saudi Arabia’s foreign minister announced that the kingdom would complete a $4 billion arms deal with France, but instead of sending the weapons to Lebanon — as was first planned — the arms would go to the Saudi military.

The kingdom cancelled the grants to arm the Lebanese Army and security forces with French weapons after the Lebanese government failed to condemn an attack in January against the Saudi embassy in Iran. Saudi officials blamed the Shi’ite group Hezbollah, Lebanon’s most powerful militia and political movement, for exerting too much control over the Lebanese government and moving the country closer to Iran.

Source: blogs.reuters.com

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