Qatar can’t sue Saudi bank in New York over alleged World Cup scheme

By Max Jaeger (April 15, 2022, 6:20 p.m. EDT) — A New York judge has dismissed the nation of Qatar’s lawsuit alleging that a Saudi bank conspired to devalue its currency and undermine its ability to host the World Cup football 2022, concluding that the Empire State does not have jurisdiction over the dispute between a foreign nation and a foreign bank.

New York Supreme Court Justice Melissa Crane on Thursday rejected Qatar’s argument that Samba Financial Group SJSC’s use of Bloomberg and Reuters’ New York-based financial exchange servers triggered the law long arm of the state.

“The purpose of the alleged fraudulent scheme was to devalue the Qatari currency, a detriment that would necessarily…

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