MOSCOW, May 25 (RIA Novosti) - Russia will earn $12 billion by implementing a Russian-American agreement on the utilization of highly-enriched uranium extracted from nuclear weapons (HEU-LEU Agreement).
According to Alexander Yakovenko, an official spokesman for the Russian Foreign Ministry, the agreement provides for the processing of 500 tons of Russian highly-enriched uranium (HEU) obtained from the nuclear weapons dismantled under Russia's nuclear arms reduction international obligations, into low-enriched uranium (LEU) with 3.5-4.5% level of enrichment by 2013. After this, uranium is to be sold at world prices for its further use in the production of fuel for American nuclear power plants.
"By this September, half of the program for processing highly-enriched uranium will be completed," Alexander Yakovenko said.
In his opinion, the funds obtained through the sale of highly-enriched uranium within the framework of the HEU-LEU Agreement (around $ 700 million per year) will help to support the national nuclear power sector, enhance the safety of nuclear power plants, and promote the conversion of defense industry enterprises.
"Perhaps, this is the only major disarmament program which does not need additional funds for its implementation and even brings revenues to the budget," Alexander Yakovenko said.
In the Russian diplomat's words, the Russian-American agreement is a major disarmament initiative.
"It is important to underline the significance of this program as Russia's step to meet its commitments on Article 4 of the Nuclear Non-Proliferation Treaty (NNPT) - Nuclear Disarmament," Alexander Yakovenko said in conclusion.
