Saudi Arabia has announced that it will deposit $5 billion in Turkey’s central bank, providing a significant boost to the country’s foreign reserves..

Saudi Arabia to Deposit $5 Billion in Turkish Central Bank Ahead of Presidential Elections

Saudi Arabia has announced that it will deposit $5 billion in Turkey’s central bank, providing a significant boost to the country’s foreign reserves as it struggles with inflation and the aftermath of last month’s earthquake.

The deposit was made on the order of King Salman and Crown Prince Mohammed bin Salman, according to a statement from the Saudi government.

The move represents a significant warming of relations between the two countries after the killing of Saudi journalist Jamal Khashoggi in 2018.
Turkey pursued the case vigorously at the time, causing tension between the two nations.