Senate Subpoenas Saudi's $700bn Sovereign Wealth Fund and PIF Over US Dealings and Golf Partnerships
The Senate's permanent subcommittee on investigations has issued a subpoena to Saudi Arabia's $700 billion sovereign wealth fund, the Public Investment Fund (PIF), after it refused to comply with voluntary information requests regarding its US dealings. The subpoena targets the PIF's US subsidiaries and is related to the group's proposed golf deal and other investments in the United States. Senators expressed concern over the lack of transparency and accountability of the PIF, which is seen as closely tied to Crown Prince Mohammed bin Salman. The hearing also delved into Saudi Arabia's human rights abuses, alleged involvement in the 9/11 attacks, and objections to its attempts to acquire national assets.