There have been calls for an investigation into the huge investment made by the Saudi Public Investment Fund, controlled by Prince Mohammed, in Affinity Partners, a private equity firm set up by Jared Kushner months after he left the White House and his job as special adviser to Trump, his father-in-law.

In doing so, the kingdom’s de facto ruler ignored the warnings of the Saudi fund’s own advisory panel. It worried about Affinity’s inexperience: Kushner was in real estate before his White House stint, and his track record of investments was widely considered not particularly good. It was concerned that the new company’s due diligence on operations was “unsatisfactory in all aspects”, and that it was charging “excessive” fees, according to a report in the New York Times.

“It boils down to something very simple. The Saudis – meaning Mohammed bin Salman – have chosen Trump over Biden, and they’re sticking to their bet,” said Bruce Riedel, a former senior CIA official who is director of the Brookings Institution’s intelligence project.