Limitation on Nuclear Cooperation with the United Arab Emirates Act of 2008 - Prohibits any agreement for cooperation to enter into force or any license to be issued for the export of nuclear material, equipment, or technology between the United States and the United Arab Emirates (UAE) pursuant to the Atomic Energy Act of 1954 unless the President certifies to the appropriate congressional committees that the government of the UAE has: (1) taken actions to prohibit the transfer of goods, services, or technology to the government of Iran, including fully implementing U.N. Security Council sanctions against Iran; (2) implemented an export control regime in accordance with international standards and has implemented legislative and functional actions to target the logistical and financial networks that support terrorist organizations; (3) terminated all related cooperation between any UAE national and the government of Iran, any Iranian national, or any Iranian-controlled entity, and has prosecuted any such UAE national, and (4) not engaged in or condoned activities that violate the Iran Sanctions Act of 1996, the Iran, North Korea, and Syria Nonproliferation Act, and other applicable U.S. law.
Amends the the Atomic Energy Act of 1954 to require congressional approval of an agreement for peaceful nuclear cooperation (section 123 agreement). (Under current law such an agreement become effective unless Congress disapproves it within a specified time period.)
Directs the President to keep the House Committee on Foreign Affairs and the Senate Committee on Foreign Relations fully informed of any initiative or negotiations relating to a new or amended section 123 agreement.