• 312 days Will The ECB Continue To Hike Rates?
  • 312 days Forbes: Aramco Remains Largest Company In The Middle East
  • 314 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 714 days Could Crypto Overtake Traditional Investment?
  • 719 days Americans Still Quitting Jobs At Record Pace
  • 721 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 724 days Is The Dollar Too Strong?
  • 724 days Big Tech Disappoints Investors on Earnings Calls
  • 725 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 727 days China Is Quietly Trying To Distance Itself From Russia
  • 727 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 731 days Crypto Investors Won Big In 2021
  • 731 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 732 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 734 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 735 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 738 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 739 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 739 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 741 days Are NFTs About To Take Over Gaming?
China Is Quietly Trying To Distance Itself From Russia

China Is Quietly Trying To Distance Itself From Russia

Western sanctions against Russia are…

The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030

The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030

According to Citigroup, the metaverse…

Could Crypto Overtake Traditional Investment?

Could Crypto Overtake Traditional Investment?

Despite recent volatility, there is…

  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