New Delhi: The US and Saudi Arabia have signed a peaceful nuclear cooperation agreement, commonly known as a 123 agreement, along with a bilateral safeguards agreement, establishing the legal framework for a decades-long, multi-billion-dollar civil nuclear partnership.
The agreements were signed in Washington by US Secretary of Energy Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman. According to the US Department of Energy, the partnership supports key economic and strategic objectives, including strengthening global nuclear nonproliferation efforts.
The department, in a press release, said the 123 agreement would provide American companies with greater access to Saudi Arabia’s nuclear energy programme. It added that the deal would benefit US industry, workers and supply chains while helping Saudi Arabia meet its energy needs.
According to the department, the agreements will also strengthen US and regional security by upholding high standards of nuclear safety, security and nonproliferation. They are also expected to enhance the US’ competitive position in the global civil nuclear technology sector.
Wright said the agreements reflected the shared commitment of the US and Saudi Arabia to strengthen commercial relations while promoting prosperity and security. He said the agreements upheld the highest standards of nuclear safety and nonproliferation and relied on advanced nuclear technology and scientific expertise developed in the US.
He added that, under President Donald Trump’s leadership, the US was advancing what the administration described as an American nuclear renaissance that would deliver long-term benefits to both countries.
The Department further said the agreement builds on Trump’s Executive Order on deploying advanced nuclear reactor technologies for national security, particularly provisions promoting American nuclear exports through expanded international civil nuclear cooperation under Section 123 of the Atomic Energy Act of 1954.
The Department also said the partnership is expected to expand American nuclear technology exports, create high-paying jobs, support long-term economic growth, strengthen US energy and national security, reinforce global nuclear nonproliferation standards, and deepen the strategic partnership between the US and Saudi Arabia.
The agreement will now be transmitted to the U.S. Congress for review.
