US, Saudi Arabia sign civil nuclear cooperation agreement

The US and Saudi Arabia have signed a nuclear cooperation agreement, the US Energy Department said Wednesday.

US Energy Secretary Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman signed the peaceful nuclear cooperation agreement, commonly known as a 123 Agreement, along with a bilateral safeguards agreement, the agency said in a statement.

The agreements establish the legal basis for a "decades-long, multi-billion-dollar partnership" that advances commercial ties, energy cooperation and nuclear nonproliferation objectives.

They provide "great access" for American companies in the Saudi nuclear energy program, benefiting American industry, workers, and supply chains while helping to meet Saudi energy needs, the statement said.

The two agreements also advance US and regional security by upholding high standards of nuclear safety, security, and nonproliferation and strengthening the US' "competitive edge" in civil nuclear technology, according to the readout.

"These agreements reflect our two nations' shared commitment to strengthening U.S.-Saudi commercial relations, delivering prosperity at home and security to our allies abroad," Wright said.

"Rest assured, these agreements uphold the highest standards of nuclear safety and nonproliferation, while relying on the world's best nuclear technology and scientists, designed right here in the United States," he added.

According to the department, the partnership is expected to expand US nuclear technology exports, create high-paying American jobs, strengthen US energy and national security, reinforce global nonproliferation standards and deepen the strategic relationship between Washington and Riyadh.

"The agreement will now be transmitted to Congress for review," it said.