The United States is set to announce a nuclear cooperation agreement with Saudi Arabia on Wednesday, granting the kingdom a civilian nuclear programme, according to media reports citing US sources.
A key provision of the deal would permit American companies to construct a uranium enrichment facility in Saudi Arabia, contingent on a joint study determining the project is warranted, the Wall Street Journal reported.
The announcement arrives as the White House prepares to unveil a separate diplomatic breakthrough with Iran, according to earlier reports.
The dual developments signal a significant shift in the administration's approach to Middle East security and energy policy.
For markets, the deal underscores the strategic importance of nuclear technology and energy infrastructure in US-Saudi relations.
While the immediate financial impact is unclear, the agreement could open opportunities for US nuclear and engineering firms involved in the project.