Of course he could equally have said of just about any moderately technologically advanced country that it was "pursuing the technology that could be used to produce nuclear weapons and ballistic missles of increasing range that could deliver them".

In fact that is just another way of saying it has a moderate level of technological advancement. "Could be" can cover absolutely every eventuality.

A country manufacturing box cutters is pursuing the technology that "could be" used to carry out a 911 type attack. A shop selling cigarette lighters is supplying the technology that "could be" used to burn down a city.