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Saudi Arabia Lets U.S. Credit Lapse Because of Difference over Palestine Policy

August 17, 1948
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The Saudi Arabian Government has let a $15,000,000 portion of a $25,000,000 Export-Import Bank credit lapse because of political differences with the United States over American support of Jewish claims in Palestine it was reported here today. A spokesman for the Saudi Arabian legation said that his government had decided to let the loan expire because they preferred to get their money “from friends, not enemies.”

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