A £50m signing just over a year ago from the Reds, Nunez has been Al-Hilal's prime centre-forward leading up to Christmas.
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However, the arrival of Karim Benzema from Al-Ittihad has seen Nunez forced to make way.
The Uruguay international has been de-registered by Al-Hilal from their Saudi Pro League squad so to create a foreigner slot for Benzema.
As it stands, for the remainder of the season, Nunez will only be cleared to play in the Asian Champions League.