US-Saudi nuclear agreement grants American firms exclusive role in Kingdom's atomic infrastructure

WATCH THIS SPACE #1- US President Donald Trump signed off on a 30-year US-Saudi civil nuclear agreement, clearing the Kingdom’s path towards domestic uranium enrichment, the Wall Street Journal reports. The accord — worth USD tens of bns — grants US companies an exclusive role in developing nuclear infrastructure in Saudi Arabia, including a provision to potentially set up a uranium enrichment facility subject to a joint study.

One more approval required: The agreement faces impending congressional review, where it may face pushback from lawmakers opposed to Middle Eastern nuclear advancement. It will be difficult to block the agreement as overriding a potential presidential veto requires a two-thirds majority.

Catch up quick: Despite being fully negotiated in October, progress on the accord reportedly stalled amid the US-Iran war — ostensibly launched to curtail Tehran’s nuclear program — and anticipated congressional pushback over enrichment provisions and relaxed IAEA oversight. A draft Saudi agreement reportedly permitted limited enrichment and replaced standardized IAEA inspections with a bilateral US-Saudi safeguards arrangement.

Air France has delayed its Dubai and Riyadh return for a second time, missing a 20 July restart target, Gulf News reports. Dubai stays suspended through 27 July, Riyadh through 24 July, and Beirut — also pushed back — through 2 August. The European Union Aviation Safety Agency has advised airlines not to fly through Bahrain, Kuwait, Qatar, the UAE, or the western Gulf of Oman through 29 July.

None of the airlines that suspended Gulf routes this year have actually resumed them on schedule. British Airways has pushed its Dubai suspension until 25 October and Riyadh to 8 August; Lufthansa and Swiss have extended their Dubai suspensions until 13 September; and Cathay Pacific and Singapore Airlines have moved flights to late October.

The UAE isn’t stopping at May’s GCC-UK trade agreement — it wants a bilateral agreement of its own with London, Emirati ambassador to the UK Mansoor Abulhoul told Politico. Abulhoul described the GCC-UK agreement, which was finalized in May, as “a solid foundation,” before adding that the two sides must “move quickly” on a comprehensive economic partnership agreement (CEPA).

In the cards: A UAE-UK CEPA would go beyond the GCC agreement, which includes removing duties on exports, facilitating business activity, and targeting sectors like financial services, digital trade, and investment protection, Abulhoul said. Possible outcomes could span increased collaboration on AI, digital trade, and financial services, more UAE investment in the UK, more tariff reduction, and mutual recognition of qualifications for skilled workers like lawyers and engineers, he added.

In parallel, the UAE is looking to join one of the world’s biggest trade blocs, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which agreed to kick off preparatory discussions on UAE accession last month. It’s also continuing its CEPA drive, with trade from countries it has an agreement with reaching AED 304.3 bn in 1H.

On your way out

Saudi Arabia is now offering a multiple-entry, one-year Umrah visa, allowing holders to enter the Kingdom multiple times for a cumulative stay of up to 90 days, state news agency SPA reports. The new visa is reactivated after each departure once regulatory requirements are met, but it cannot be used during the Hajj season.