Opened by UN global nuclear watchdog, International Atomic Energy Agency (IAEA)
The bank is owned and managed by IAEA.
It will be the first of its kind LEU bank not to be under control of any individual country.
Purpose of Bank
Last resort Supply: It will serve as last resort source of LEU after IAEA member countries are unable to either produce fuel or if it becomes unavailable on the international market for whatever reason. It will ensure that in the event of an international crisis or similar circumstances, countries dependent on nuclear power would still have access to uranium.
Non-proliferation efforts: It will discourage countries from developing their own uranium enrichment capacities as seen supposedly that peaceful use of enriched uranium can be converted into weapons-grade level.
No disruption to nuclear fuel trade: It will not disrupt usual trade of nuclear fuel purchased in the open market or by bilateral agreement between countries.
Peaceful use of atomic energy: It will ensure peaceful use of atomic energy without the need to develop a costly enrichment program. It will assure that suppliers in the international markets do not manipulate prices or when LEU ceases to be supplied for political reasons.
3 thoughts on “Low Enriched Uranium (LEU) Bank”
Kajal Tiwari
can anyone explain non proliferation efforts point?
It means : Since Uranium Bank will provide low enrichment uranium, countries will not develop their own facilities for enrichment. Low enrichment Uranium can be converted into bomb and misused. So, bank will provide a safeguard against that
can anyone explain non proliferation efforts point?
It means : Since Uranium Bank will provide low enrichment uranium, countries will not develop their own facilities for enrichment. Low enrichment Uranium can be converted into bomb and misused. So, bank will provide a safeguard against that
Thanks for explanation.
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