UN Nuclear Watchdog Risks Running Out of Money on US, China Standoff
- IAEA may ‘grind to a halt’ in a month because of unpaid dues
- Clash over influence puts nuclear power’s growth at risk
The Vienna-based agency ensures that nuclear fuel used to generate electricity isn’t diverted for weapons, regulates global nuclear-safety standards and provides developing nations with access to technologies.
Photographer: Akos Stiller/BloombergThe International Atomic Energy Agency may soon run out of money to monitor the world’s nuclear stockpiles because the US, China and others aren’t paying their dues, marking the latest frontline in the tug of war between Washington and Beijing for influence.
Draft documents seen by Bloomberg show a hole of about €220 million ($235 million) in the watchdog’s €650 million budget for this year, with the US and China being the biggest debtors. The Vienna-based agency ensures that nuclear fuel used to generate electricity isn’t diverted for weapons, regulates global nuclear-safety standards and provides developing nations with access to technologies.