The Saudi-Swedish standoff has further escalated following Riyadh’s decision to stop granting visas to Swedish businessmen.

Economic and diplomatic groups have expressed surprise over the decision that puts the interests of dozens of companies and hundreds of employees at risk.

Swedish Ambassador in Riyadh Dag Danfeilt told Asharq Al-Awsat daily that he has been working hard to find a solution to the issue and normalize bilateral relations.

He added that his government has been trying to contact Riyadh and is waiting for a reply.

He expressed hope that a high-profile official will visit Saudi Arabia after ''we receive an invitation for that.''

In response to questions following a crisis meeting — boycotted by a number of prominent industrialists, economic figures and businessmen — on Thursday to discuss the situation, Swedish Prime Minister Stefan Löfven said: “We still have hope in the relationship between private industrial enterprises in the two countries and the separation of political and economic issues. We invite all companies, influential individuals, businessmen and professionals, to join us in order to present and discuss a wider range of proposals.”

He added: “I cannot say the meeting was a failure, as evident by the attendees, and their practical and fruitful suggestions.” He said he remains confident that officials and Swedish organizations can exchange opinions to correct the path toward partnership with Saudi Arabia.

Reports indicate top executives of well-known companies such as SAB, Scania, IKEA, Sandvik Group, Alfa Laval and Ericsson sent representatives on their behalf to the meeting as an expression of dissatisfaction over the Swedish foreign minister’s remarks about Saudi Arabia. Only a small number of CEOs attended the critical meeting. They called for moral and clear disciplinary action to remedy the situation.

Mats Knutsson, an expert on political issues, said: “Swedish economic groups have a long and impressive history in international relations, and many believe that the crisis must be addressed from a moral standpoint.”

Pierre Jonsson from the Institute of Foreign Studies added: “The move forward will not work before recognition that a catastrophic mistake was made when the foreign minister exceeded the limits of public diplomacy and defamed the Saudi state.”