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FINANCIAL NEWS
Saudi Arabia signs nuclear deal with South Korea
12 Mar 2015
(MENAFN) KSA signed a nuclear-cooperation agreement with South Korea, a decision which forecasts a race for nuclear arms in the Middle East, according to reports, Arabian Business reported.
According to Saudi Press Agency, the memorandum of understanding between Saudi Arabia and South Korea included a plan to study the feasibility of building two nuclear reactors worth USD2 billion over the next 20 years.
Some view the agreement in the US as retaliation for an agreement between world powers and Tehran set to allow Iran of maintaining part of its nuclear program.
Saudi’s former intelligence chief has publicly warned in recent months that Riyadh would match whatever the nuclear capabilities Iran is allowed to maintain as part of any final agreement, presently being negotiated.
This could include the ability to enrich uranium and to harvest the weapons-grade plutonium discharged in a nuclear reactor’s spent fuel.
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