The Kingdom of Saudi Arabia and the U.S. have entered an eye-popping agreement on July 22 in Riyadh that would allow the kingdom to develop its civil nuclear program with the support of Washington.

“These agreements reflect our two nations’ shared commitment to strengthening U.S.-Saudi commercial relations, delivering prosperity at home and security to our allies abroad,” U.S. Secretary of Energy Chris Wright said.

The agreement signed between Wright and Saudi Minister of Energy Prince Abdulaziz bin Salman is a “peaceful nuclear cooperation agreement, commonly known as a 123 agreement, alongside an accompanying bilateral safeguards agreement,” according to the U.S. Department of Energy.

Together, these two agreements lay the legal foundation for a decades-long, multi-billion-dollar partnership that advances several priority economic and strategic objectives, including nuclear nonproliferation.”

The deal, together with a related safeguards accord, establishes the legal framework for a decades-long partnership worth billions of dollars.

The U.S. Department of Energy said the deal would help meet Saudi Arabia's energy needs while allowing U.S. companies to participate in the kingdom's nuclear program under the highest standards of nuclear safety, security and non-proliferation.