OREANDA-NEWS. March 6, 2009. Russia-based security stock of low enriched uranium will allow IAEA member-states to supply fuel to their nuclear power plants in cases of emergency.

Russia’s decision to create a 120-ton security stock of low enriched uranium under the aegis of the International Atomic Energy Agency will allow IAEA member states to supply fuel to their nuclear power plants in cases of emergency, says the Russian representative to the Board of Governors of the IAEA Grigory Berdennikov.

“This stock will secure stable fuel supplies whenever the market fails to provide sufficient fuel,” Berdennikov said during a meeting of the Board of Governors of the IAEA on Thursday, Mar 5 2009. “This stock is designed for supplying consumers with nuclear fuel whenever they face insurmountable difficulties of political nature in receiving low enriched uranium.”

“This stock shall be open to any IAEA member state meeting its nonproliferation obligations and carrying out peaceful nuclear activities under the guarantees of the Agency,” Berdennikov said.

He said that Russia was going to undertake all expenses for creating the stock, storing and guarding the materials and ensuring the application of the IAEA’s guarantees.

Berdennikov said that the mechanism of supplies of nuclear materials from the security stock shall be enforced exclusively by the decision of the director general of the IAEA with the supplies to be effected on the latter’s insistence immediately. He pointed out that Russia’s proposal did not contradict other similar initiatives and did not compete with them.

Russia is going to closely consult with the IAEA secretariat and member states on the matter.

“We are suggesting developing and submitting to the Board of Governors specific proposals on this issue,” Berdennikov said.