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

Bloomberg, By Jonathan Tirone, September 16, 2023

The 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.

The US and China — also the biggest donors at a more than a combined €137 million — are increasingly at loggerheads over issues such as Japan’s release of treated wastewater from the crippled Fukushima nuclear plant and Australia’s intention to buy nuclear-powered submarines. Countries traditionally exert pressure on the United Nations’ agency’s purse strings to sway its decision-making.

Both the American and Chinese missions to the IAEA declined requests for comment. In a diplomatic note circulated late Wednesday, the Chinese government said the IAEA was at risk of privatization by Western nations that have control over its board of governors.

“The ‘independent role’ of the secretariat in fulfilling its duties must be based on the understanding and support of member states,” China’s envoy, Li Song, said in a separate statement posted on the embassy’s website.

Who Regulates the Global Nuclear Industry?

European, US nationals run the IAEA with more than 56% of all jobs

It’s the second time in a month IAEA governance issues have bubbled to to the surface, with the cash crunch exposing another potential weak link for a nuclear industry that leans heavily on regulators. ……………

“We may be grinding to a halt in a month if we don’t get the money that is owed,” IAEA Director General Rafael Mariano Grossi said Monday. “It’s time for some important countries to walk the walk.”………………………………………..

Under the motto “Atoms for Peace,” the IAEA was founded by President Dwight Eisenhower in 1957 to commercialize nuclear-energy technologies first developed for weapons………….. more https://www.bloomberg.com/news/articles/2023-09-14/us-china-tug-of-war-is-choking-nuclear-watchdog-s-finances#xj4y7vzkg

September 16, 2023 - Posted by Christina Macpherson | safety