RIYADH, (DNA) – Saudi Arabia on Sunday dismissed threats of sanctions over the disappearance of journalist Jamal Khashoggi and vowed that the oil-rich kingdom would retaliate with consequences for the world economy.

Riyadh s reaction came hours after US President Donald Trump threatened Riyadh with “severe punishment” if Khashoggi was killed inside the Saudi consulate in Istanbul as alleged.

“The kingdom affirms its total rejection of any threats or attempts to undermine it whether through threats to impose economic sanctions or the use of political pressure,” an official source said.

He said Riyadh would “respond to any action with a bigger one”, pointing out that the oil superpower “plays an effective and vital role in the world economy”.

Khashoggi, a contributor to the Washington Post, has not been seen since he walked of the Saudi consulate on October 2.