President Donald Trump on Wednesday denied covering up for ally Saudi Arabia in the suspected murder of a critical journalist and said that he should know what happened to Jamal Khashoggi within days.
US Treasury Secretary Seven Mnuchin announced that he would not be attending an investment conference in Saudi Arabia.
Meanwhile on Friday, British foreign minister Jeremy Hunt said allegations regarding the case of Saudi journalist Jamal Khashoggi would be totally unacceptable if true but any response by Britain would be "considered".
This year's event comes as Saudi Arabia faces intense global pressure following the disappearance and apparent death of Jamal Khashoggi, a Saudi citizen and USA resident who has written critically of the Saudi regime.
Benjamin H. Friedman, a senior fellow at Defense Priorities and an adjunct lecturer at George Washington University's Elliott School of International Affairs, said actions like the withdrawal from the Riyadh summit will be a blow to the Saudis, but likely not enough to get a satisfactory result.
"Fox Business Network has canceled its sponsorship and participation in the Future Investment Initiative conference in Saudi Arabia".
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Earlier, they spent almost nine hours in the Saudi consul's residence along with Saudi investigators. He disappeared after entering the Saudi Consulate in Istanbul on October 2, and Turkish officials have accused the Saudis of brutally killing Khashoggi there.
Turkish officials have said they believe Khashoggi was murdered at the consulate and his body chopped up and removed.
The Saudi government has repeatedly denied murdering Khashoggi.
In Istanbul, Turkish investigators for a second time searched the Saudi consulate, where Khashoggi vanished, in a hunt for clues.
Meanwhile, the Human Rights Watch held a press conference at the United Nations headquarters in NY yesterday, calling for an global investigation.
"Here is the head of the execution team", said Sabah's headline, and the paper then detailed Mutreb's movements on the day Khashoggi went missing.
Canada, Russia, and Saudi Arabia, among other nations, consider the Muslim Brotherhood to be a terrorist group.
"Given the reports surrounding Mr Khashoggi's disappearance, America's relationship with Saudi Arabia ought to be carefully scrutinised, as should any possible sale of USA weapons to Saudi Arabia", he said.