Saudi Arabia ramps up financial retaliation against Canada

A new report in the Financial Times says Saudi Arabia has started selling Canadian assets as its diplomatic dispute with the Federal government ratchets up.

The outlet reports that Saudi government agencies have ordered the sale of cash and bond holdings.

The FT says the sell-off started on Tuesday and Saudi officials have not ruled out the possibility of more retaliation to come.

Relations with Saudi Arabia took a turn last weekend after Canada's Federal government criticized the Middle Eastern country over the arrest of women's rights activists.