• 627 days Will The ECB Continue To Hike Rates?
  • 628 days Forbes: Aramco Remains Largest Company In The Middle East
  • 629 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,029 days Could Crypto Overtake Traditional Investment?
  • 1,034 days Americans Still Quitting Jobs At Record Pace
  • 1,036 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,039 days Is The Dollar Too Strong?
  • 1,039 days Big Tech Disappoints Investors on Earnings Calls
  • 1,040 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,042 days China Is Quietly Trying To Distance Itself From Russia
  • 1,042 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,046 days Crypto Investors Won Big In 2021
  • 1,046 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,047 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,049 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,050 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,053 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,054 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,054 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,056 days Are NFTs About To Take Over Gaming?
World’s Richest Have Taken A $400B Wealth Cut Amid Ukraine Crisis

World’s Richest Have Taken A $400B Wealth Cut Amid Ukraine Crisis

According to the Bloomberg Billionaires…

Oligarch “Traitors” Appear to Flee Russia for Dubai

Oligarch “Traitors” Appear to Flee Russia for Dubai

Hours after Putin’s speech, several…

China Is Quietly Trying To Distance Itself From Russia

China Is Quietly Trying To Distance Itself From Russia

Western sanctions against Russia are…

  1. Home
  2. News
  3. Breaking News

Rick Perry Signs Secret Nuclear Deal With Saudi Arabia

Nuclear Deal

Washington has secretly given the go-ahead to several companies to sell nuclear power technology to Saudi Arabia, Reuters reports, citing a document it had obtained. The document featured an approval of six authorizations for nuclear power tech by Energy Secretary Rick Perry.

The request for secrecy came from the companies that won the authorizations, according to the document, authored by officials from the National Nuclear Security Administrations.

“In this case, each of the companies which received a specific authorization for (Saudi Arabia) have provided us written request that their authorization be withheld from public release,” it said.

An official from the Department of Energy told Reuters the reason for the secrecy was that the requests from the companies to partake in the deal with Saudi Arabia contained proprietary information.

The information comes on the heels of a report that the Government Accountability Office had initiated a probe into the U.S.-Saudi nuclear power talks that have been going on for a while. There is one important obstacle in these talks and this is Saudi Arabia’s reluctance to sign a nuclear co-operation agreement under the Atomic Energy Act that seeks to guarantee that nuclear technology is only used for civil purposes. Related: The Best Way To Play The 5G Revolution

The Financial Times recalls that two months ago Congress accused the Trump administration of trying to sell U.S. nuclear power technology in defiance of the law. A recent report for the House of Representatives said the administration was trying “to rush the transfer of highly sensitive US nuclear technology to Saudi Arabia.”

In this, Reuters notes, the U.S. competes with South Korea and Russia. Riyadh will announce the companies that will build Saudi Arabia’s first nuclear reactors later this year. There is concern, however, that the Kingdom will not use nuclear technology for strictly civil purposes, which could ignite an arms race in the Middle East.

By Irina Slav for Oilprice.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment