During the 62nd IAEA General Conference that took place on September 17-21, 2018 in Vienna (Austria), TENEX and IAEA concluded a contract on low enriched uranium (LEU) transit necessary for successful implementation of the IAEA LEU Bank international initiative. The document was signed by Oleg Kozin, Deputy Director General for Logistics at TENEX, and Mark Bassett, IAEA LEU Bank Project Executive.
According to the contract, TENEX will ensure a full complex of logistics services in providing LEU transit along the territory of Russia.
IAEA Low Enriched Uranium Bank is a depository of a physical inventory of LEU with total weight of up to 90 metric tons created in the territory of Ulba Metallurgical plant (Kazakhstan) within the framework of IAEA’s activity on ensuring nuclear fuel supplies to the countries in case of the current arrangements on LEU purchase breakdown due to an emergency. The main principle of IAEA LEU Bank operation is non-infringement of commercial uranium market stability. Only member states of IAEA having concluded a comprehensive safeguards agreement and fulfilling its provisions can purchase LEU from IAEA LEU Bank.