Saudi Arabia says won't withdraw US investments

Saudi Arabia's foreign minister says the Kingdom won't withdraw investments in the US after the election of Donald Trump or due to the potential for lawsuits under the US Justice Against Sponsors of Terrorism Act, known as JASTA.

RIYADH (REUTERS) - Saudi Arabia's foreign minister said on Sunday the Kingdom won't withdraw investments in the United States (US) after the election of Donald Trump or due to the potential for lawsuits under the US Justice Against Sponsors of Terrorism Act, known as Jasta.

The country's Foreign Minister, Adel al-Jubeir, made the comments during a joint news conference with US Secretary of State John Kerry in the Saudi capital, Riyadh.

"The Kingdom of Saudi Arabia has tremendous investments in the United States and we review those investments on a regular basis. There are issues associated with risk, but our objective is to increase those investments. We won't decrease them," he said.

Jasta, passed in May, grants an exception to the legal principle of sovereign immunity in cases of terrorism on US soil, clearing the way for lawsuits seeking damages from the Saudi government.

The Trump campaign released a statement in September calling President Barack Obama's veto of the bill, which was overridden, "in insult to the families of those we lost on 9/11."

Riyadh denies long-standing suspicions that it backed the hijackers who attacked the United States in 2001.