The International Atomic Energy Agency (IAEA) may soon run out of money to monitor the world’s nuclear stockpiles because the U.S., China and others aren’t paying their dues, marking the latest fallout from 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 U.S. 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 U.S. and China — also the biggest donors at 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.