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 ¡ª also the biggest donors at a combined €137 million ¡ª 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.
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