Libya is ready to sign a protocol allowing surprise UN inspections of its nuclear sites. This follows Friday’s announcement of Libyan leader Colonel Muammar Gaddafi’s decision to abandon all efforts to develop any chemical, biological and nuclear weapons. The decision reportedly followed nine month of secret negotiations with Britain and the United States. Libya is already a signatory of the Nuclear Non-Proliferation Treaty but the protocol allows for tougher, short-notice visits of nuclear sites by IAEA experts. Several states in the Middle East including Egypt and Iran welcomed Libya’s announcement and urged Israel to follow suit by eliminating any banned weapons it may have. Several papers are reporting Libya hopes to gain lucrative oil contracts blocked by U.S. sanctions as well as reap other economic benefits form the decision.