RIYADH: The Saudi Monetary Authority released a new twenty-riyal banknote to mark Saudi Arabia’s Presidency of the G20 summit on 25 October 2020. The banknote has stirred controversy as it does not show Gilgit Baltistan or Kashmir as parts of Pakistan.
The India media has celebrated this development and is claiming that this proves Saudi’s loyalty with India rather than Pakistan when it comes to Kashmir and Gilgit Baltistan.
The oil rich kingdom is expected to invest approximately $60 billion in India’s oil industry.
This comes in the aftermath of a statement by Mossas chief Yossi Cohen who predicted that Saudi Arabia would normalise ties with Israel after the US elections.
While UAE has already normalised its relationship with Israel, Pakistan remains opposed to this alliance.
Prime Minister Imran Khan had clarified that Pakistan would not recognise Israel even if the whole world did.
Pakistan’s ties with Saudi Arabia have suffered a blow after Foreign Minister Shah Mehmood Qureshi demanded support for the rights of Kashmiris from the oil rich kingdom otherwise Pakistan would be ‘forced’ to move towards other regional alliances.
Saudi Arabia did not support Pakistan’s stance on Kashmir but immediately demanded payback of loans worth billions of dollars, causing an immense pressure to Pakistan’s exchequer.