The U.S. State Department approved the sale of billions of dollars in weapons to Saudi Arabia and the United Arab Emirates, two important allies against Iran as tensions rise in the Middle East.
The Biden administration told Congress that it approved the sale of dozens of Hellfire and Sidewinder missiles to Saudi Arabia. The more than $1 billion sale also includes artillery, tank and machine gun ammunition.
The approved sale comes two months after President Joe Biden lifted limits on the sale of certain weapons to Saudi Arabia. The White House sought to pressure the country to curtail its war against Houthi rebels in Yemen.
The Houthis began targeting container ships and oil tankers as they traversed the Red Sea after Hamas attacked Israel on Oct. 7, 2023. Iran, which is in a growing conflict with Israel, is a key backer of the Houthis and Hamas, which the United States and European Union have condemned as a terrorist group.
The State Department also approved the potential sale of GMLRS guided-rocket systems, long-range ATACMS missiles and training and support for both systems to the United Arab Emirates. The sale is valued at as much as $1.2 billion.
Congress has the power to block the proposed sales. Unless that happens, U.S. defense contractors and receiving countries can negotiate terms of the sale.
RTX (NYSE:RTX) makes the Sidewinder missile. Lockheed Martin (NYSE:LMT) manufacturers all the other weapons and systems.
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