Latest news with #Colby
Reuters
20 hours ago
- Business
- Reuters
US to complete review into AUKUS defence pact in autumn
SYDNEY, July 30 (Reuters) - The United States will complete a review into a defence pact with the United Kingdom and Australia in the northern hemisphere autumn, the office of a top Pentagon official said on Wednesday. U.S. President Donald Trump's administration said in June it had launched a formal review into the AUKUS defence deal - worth hundreds of billions of dollars - that will allow Australia to acquire U.S. nuclear-powered submarines, causing alarm in Canberra. The review into the 2021 deal struck during the Biden administration is being led by Under Secretary of Defense for Policy Elbridge Colby, a public critic of the pact. Colby's office said in a post on X on Wednesday (Tuesday EST) the review will be an "empirical and clear-eyed assessment" of the deal. "The Department anticipates completing the review in the fall," the post said. "Its purpose will be to provide the President and his senior leadership team with a fact-based, rigorous assessment of the initiative." AUKUS is Australia's biggest-ever defence project, with Canberra committing to spend A$368 billion ($240 billion) over three decades to the programme, which includes billions of dollars of investment in the U.S. submarine production base. Colby, the Pentagon's top policy adviser, said last year that submarines were a scarce, critical commodity, and U.S. industry could not produce enough to meet American demand. Australia, which this month paid A$800 million to the U.S. in the second instalment under AUKUS, has maintained it is confident the pact will proceed. Australia and Britain on Saturday signed a bilateral 50-year submarine pact, that they said builds on the AUKUS alliance with the U.S. ($1 = 1.5323 Australian dollars)
The Star
a day ago
- Business
- The Star
US to complete review into AUKUS defence pact in autumn
The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020. REUTERS/Carlos Barria SYDNEY (Reuters) -The United States will complete a review into a defence pact with the United Kingdom and Australia in the northern hemisphere autumn, the office of a top Pentagon official said on Wednesday. U.S. President Donald Trump's administration said in June it had launched a formal review into the AUKUS defence deal - worth hundreds of billions of dollars - that will allow Australia to acquire U.S. nuclear-powered submarines, causing alarm in Canberra. The review into the 2021 deal struck during the Biden administration is being led by Under Secretary of Defense for Policy Elbridge Colby, a public critic of the pact. Colby's office said in a post on X on Wednesday (Tuesday EST) the review will be an "empirical and clear-eyed assessment" of the deal. "The Department anticipates completing the review in the fall," the post said. "Its purpose will be to provide the President and his senior leadership team with a fact-based, rigorous assessment of the initiative." AUKUS is Australia's biggest-ever defence project, with Canberra committing to spend A$368 billion ($240 billion) over three decades to the programme, which includes billions of dollars of investment in the U.S. submarine production base. Colby, the Pentagon's top policy adviser, said last year that submarines were a scarce, critical commodity, and U.S. industry could not produce enough to meet American demand. Australia, which this month paid A$800 million to the U.S. in the second instalment under AUKUS, has maintained it is confident the pact will proceed. Australia and Britain on Saturday signed a bilateral 50-year submarine pact, that they said builds on the AUKUS alliance with the U.S. ($1 = 1.5323 Australian dollars) (Reporting by Alasdair Pal in Sydney; Editing by Michael Perry)
Straits Times
a day ago
- Business
- Straits Times
US to complete review into AUKUS defence pact in autumn
Sign up now: Get ST's newsletters delivered to your inbox The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020. REUTERS/Carlos Barria SYDNEY - The United States will complete a review into a defence pact with the United Kingdom and Australia in the northern hemisphere autumn, the office of a top Pentagon official said on Wednesday. U.S. President Donald Trump's administration said in June it had launched a formal review into the AUKUS defence deal - worth hundreds of billions of dollars - that will allow Australia to acquire U.S. nuclear-powered submarines, causing alarm in Canberra. The review into the 2021 deal struck during the Biden administration is being led by Under Secretary of Defense for Policy Elbridge Colby, a public critic of the pact. Colby's office said in a post on X on Wednesday (Tuesday EST) the review will be an "empirical and clear-eyed assessment" of the deal. "The Department anticipates completing the review in the fall," the post said. "Its purpose will be to provide the President and his senior leadership team with a fact-based, rigorous assessment of the initiative." AUKUS is Australia's biggest-ever defence project, with Canberra committing to spend A$368 billion ($240 billion) over three decades to the programme, which includes billions of dollars of investment in the U.S. submarine production base. Top stories Swipe. Select. Stay informed. Asia Japan issues tsunami warning after 8.7-magnitude earthquake strikes off Russia Business MAS keeps Singapore dollar policy unchanged amid US tariff risks to economy Business Cathay Cineplexes ropes in restructuring specialist as more payment demands pile up Opinion Nobel Prize? Maybe not, but give Asean credit for Cambodia-Thailand ceasefire Asia Fragile Cambodia-Thailand truce faces challenges on day one Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Business No clarity yet on baseline or pharmaceutical tariffs with US: DPM Gan Singapore Facts and myths intersect at the National Museum's new glass rotunda installation Colby, the Pentagon's top policy adviser, said last year that submarines were a scarce, critical commodity, and U.S. industry could not produce enough to meet American demand. Australia, which this month paid A$800 million to the U.S. in the second instalment under AUKUS, has maintained it is confident the pact will proceed. Australia and Britain on Saturday signed a bilateral 50-year submarine pact, that they said builds on the AUKUS alliance with the U.S. REUTERS
News.com.au
a day ago
- Business
- News.com.au
US delays AUKUS review as defence spending row drags on
Anthony Albanese has denied the US is using its AUKUS review as 'leverage' after the Trump administration delayed it by several months. Donald Trump's defence policy chief, Elbridge Colby, announced the delay on Wednesday morning (AEST) but did not give a firm date. Instead, Mr Colby, an AUKUS sceptic, said the review would be completed 'in the fall' – much longer than the initial 30 days. It comes as the Albanese government resists Washington's demand to hike defence spending to 3.5 per cent of GDP in response to China's rapid military build-up. Mr Colby's office said the AUKUS review 'will be an empirical and clear-eyed assessment of the initiative's alignment with President Trump's America First approach'. — DoD Policy (@DOD_Policy) July 29, 2025 'As part of this process, the (US Department of Defence) looks forward to continuing regular engagements on this important matter with other parts of the US government, the US Congress, our allies Australia and the United Kingdom and other key stakeholders,' his office said. 'The department anticipates completing the review in the fall. 'Its purpose will be to provide the President and his senior leadership team with a fact-based, rigorous assessment of the initiative.' Speaking to reporters at Parliament House, the Prime Minister was asked if the delay was 'a cause for concern'. 'No, it is not surprising that that would be the case and something that we expected something like that,' Mr Albanese said. 'We expected a review from an incoming government just like the Keir Starmer government did (in the UK). 'We expect that those things take longer than just 30 days.' Asked if it was being used as 'leverage', he simply replied: 'No.'
Sydney Morning Herald
a day ago
- Business
- Sydney Morning Herald
AUKUS critic from US has tangled Aussie connection
We are sure that there is nothing personal behind the intense scrutiny that US defence official Elbridge Colby is applying to the $368 billion AUKUS nuclear submarine agreement Australia has with the US and UK. Colby is under-secretary of defence for policy, the third-most senior official in the US Defence Department, responsible for briefing US Defence Secretary Pete Hegseth. But Colby has family ties to Australia, and none of them are pleasant. As has been reported, Colby's grandfather was William Colby, a CIA director in the 1970s. But what has escaped attention so far is how the former CIA director later became an adviser to the Nugan Hand investment bank. It is difficult to find a more infamous name in recent Australian history. The investment bank collapsed in 1980 after one of its partners, Frank Nugan, was found dead from gunshot wounds in Lithgow. Another partner, Michael Hand, went on the run for decades. Loading As this paper reported in 2015: 'The bank collapsed with debts in excess of $50 million, and a subsequent royal commission found evidence of money-laundering, illegal tax avoidance schemes and widespread violations of banking laws. 'Over the years, the two words 'Nugan Hand' became shorthand for drug-dealing, gun-running, organised crime and clandestine intelligence activities. 'But nobody has been convicted. Governments, security and espionage agencies ran dead or appeared to look the other way. Many men associated with the bank's affairs in Australia, the US and Asia have died early or in mysterious circumstances.'
