OREANDA-NEWS. July 15, 2009. The Government of the Russian Federation has approved amendment №019 to the contract between Techsnabexport OJSC (Tenex, 100% subsidiary of Atomenergoprom OJSC) and US Enrichment Corporation (USEC) for supply of low enriched uranium (LEU) to the United States. The amendment was adopted on Feb 13 2009. The contract is part of the HEU-LEU (Megatons to Megawatts) Agreement signed by the governments of the United States and the Russian Federation on Feb 18 1993. The parties agreed on new pricing formula to be applied starting from 2010 till the end of the contract (2013)

The amendment has already been approved by the Government of the United States and, now that it has been ratified by the Russian Government, it has taken force, marking the completion of Tenex’s efforts to modify the terms of the contracts signed in the framework of the NEU-LEU Agreement in line with the current trends on the global uranium market. The agreement will allow the parties to further implement their commitments under the HEU-LEU, which envisages processing of 500 tons of highly enriched uranium extracted from Russian nuclear weapons into low enriched uranium and its subsequent use as fuel for nuclear reactors. By successfully completing the agreement Russia and the United States will meet their international obligations in the fields of reduction of nuclear weapons and nuclear non-proliferation and will create prerequisites for the opening of the US market for the commercial export of Russian uranium products.