Saudi To Shun Western Firms? Riyadh Withholds Payments Despite Record Profit In Oil Trade

| May 22, 2026, 07:10:36 PM | TOI.in
  • Share
Even as oil revenues surged during the Iran war, Saudi Arabia has reportedly slammed the brakes on Western consulting giants tied to Crown Prince Mohammed bin Salman’s Vision 2030 projects. Reports say Riyadh froze new consultancy contracts and delayed some payments as the kingdom reassesses spending amid rising military costs and regional instability triggered by the U.S.-Israeli conflict with Iran. Firms like McKinsey & Company and Boston Consulting Group are reportedly among those affected as Saudi Arabia pivots away from flashy megaprojects and tightens control over public finances.

Top Viral Videos