Trump greenlights Saudi uranium enrichment in nuclear deal, AP sources say
Saudi civilian nuclear pact sparks proliferation fears as it skips nonproliferation “gold standard.”
The White House has approved a civilian nuclear agreement with Saudi Arabia that would allow the kingdom to enrich its own uranium, two AP sources told i24NEWS late on Saturday (2026-07-18).6 The deal, first reported by CNN, has been awaiting President Trump’s signature since October 2025 and does not require Riyadh to adopt the strengthened control mechanisms of the International Atomic Energy Agency.7
That represents a sharp break from the 2009 U.S.-UAE nuclear accord, which imposed the nonproliferation “gold standard” — a binding commitment to forgo domestic enrichment and fuel reprocessing.7 Critics of the Saudi deal compare it directly to the UAE precedent and warn that skipping those controls could trigger a regional arms race.7 Lawmakers remain divided, with experts telling Jewish Insider in early June (2026-06-05) that the agreement in its current form would not require Riyadh to renounce enrichment at home.4
The timing is anything but neutral. Trump is simultaneously negotiating the fate of Iran’s enriched uranium stockpile after the U.S.-Iran Memorandum of Understanding signed last month (2026-06-18).5 The IAEA estimates Iran held 440 kg of uranium enriched to 60 percent, close to weapons-grade.5 Trump said on Monday (2026-05-25) that Iran’s enriched uranium would either be handed over to the United States or destroyed, calling it “Nuclear Dust!”.3 The Washington Post reported the first phase of a possible agreement could involve the release of $12 billion in frozen Iranian assets and the start of minesweeping in the Strait of Hormuz.3
Saudi enrichment rights complicate that diplomacy directly. If Tehran sees Riyadh gaining a latent bomb capability under a U.S. stamp of approval, the incentive for Iran to surrender its own stockpile collapses. Analysts tracking the Iran Surrender market on Polymarket saw the “YES” price for Iran surrendering uranium by May 31 (2026-05-31) slide to 3.6% from 5% in 24 hours as of May 21 (2026-05-21).2
The economic stakes are enormous. Trump said Saudi Arabia promised to invest nearly $1 trillion in the United States, up from the $600 billion the kingdom pledged when he visited Riyadh in May.1 Much of that spending is tied to arms sales and nuclear co-operation deals that remain unfinished, The Economist noted after Crown Prince Mohammed bin Salman’s Washington visit.1
For oil markets, the deal rewrites the geopolitical risk map. Saudi enrichment expands the kingdom’s strategic autonomy beyond crude production — and does so with Washington’s blessing.1 That could reduce the perceived risk premium on Saudi supply over time, but only if the proliferation docket stays quiet. If the deal fuels an Iran-Saudi enrichment race, the opposite happens.
ICE Brent crude front-month was trading at $93.98 per barrel on Wednesday (2026-07-22), down 0.44% on the session. WTI held at $87.60, up 1.15%. Spot prices show little immediate reaction, but the uranium ETF (URA) slipped to $40.25, down 0.57%. [live_prices]
What to watch next is whether the final text of the 123 agreement surfaces with any enrichment scope limit or a Brunei-style commitment to IAEA Additional Protocol inspections.6 If it does not, the deal that locks in Saudi enrichment could also lock in the next Middle East nuclear crisis.