Cabinet papers related to the controversial Saudi farm deal have failed to deliver the punch the Prime Minister promised to Labour.

Labour's David Parker released the 2007 documents today after the Government twice blocked his attempts to do so in the last fortnight.

The papers have become a sideshow in the ongoing saga since John key hinted they would implicate Labour in the debacle two weeks ago.

John Key indicated Labour knew New Zealand was exposed to a $30 million dollar legal risk from Saudi farmer Hmood Al Ali Al Khalaf because of its ban on live sheep exports for slaughter.

However, the cabinet papers make no mention of a legal risk.

They do repeatedly refer to "international legal, commercial and diplomatic risks" but go no further.

The papers are heavily redacted.

The $11.5 million Saudi farm deal with Mr Khalaf has become a thorn in the side of the Government since One News broke the story.