|
Untitled Document Press Statement
Richard Boucher Washington, DC
June 19, 2002
United States and Russia Agree on New Contract Terms for the Highly-Enriched Uranium Agreement The governments of the United States and the Russian Federation have approved a new market-based mechanism for determining the price paid to Russia for reactor fuel derived from highly-enriched uranium (HEU). The new market-based pricing mechanism will provide a stable and predictable procedure for implementing the HEU Agreement on a commercial basis that will obviate the need for periodic re-negotiation to reflect changing market conditions. The 1993 HEU Agreement calls for Russia to convert 500 tons of highly-enriched uranium from dismantled nuclear weapons into reactor fuel for use in commercial nuclear reactors in the United States. Shipments began in 1995 and will continue through 2013. To date more than 150 tons of HEU from the Russian nuclear weapons program has been converted to peaceful uses under this initiative. The United States and Russia will continue to cooperate to fully realize the non-proliferation, national security, and economic benefits of the HEU Agreement
|
