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This is an assurance by the United States to Russia that Russia will receive payment for the HEU that it is downgrading to LEU for shipment to the US to be converted into fuel for US nuclear reactors. The program was enacted in 1993 and since then, roughly 50% of the annual fuel requirement for US nuclear reactors has been met by it. The program ends in 2013 and a new agreement will take affect that will result a 50% reduction in the amount of HEU that is downgraded each year and sent to the US. Of concern for the US should be that we've been feeding our reactors with heavily subsidized fuel, the contract was based on a fixed-rate price for uranium that is roughly half of the current spot price, and utilities will now have to adjust to a 25% shortage of uranium in the US domestic market.
No conspiracy here, people. Move along to the next one.
Last edited by wong21fr; 06-28-2012 at 05:06 PM..
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