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UN likely to support international nuclear fuel ‘bank’

some developing states are concerned that a fuel bank might limit their right to sovereign nuclear energy capabilities, even if western diplomats say the proposal makes clear that this would not be the case.

UN expected to approve nuclear fuel bank, The National  : Nov 18, 2010 The UN nuclear watchdog is expected to approve a fuel supply plan backed by the UAE next month, which is seen as a way to prevent the spread of weapons technology.

The stalled proposal to set up a US$150 million (Dh550.9m) nuclear fuel bank run by the International Atomic Energy Agency (IAEA), which countries could turn to if their regular supplies were cut, is now likely to be adopted at a meeting of the 35-nation governing board on December 2 and 3, say European diplomats.”I expect a vote and I expect it to be passed,” one diplomat told Reuters in Vienna, where the IAEA is based……

But some developing states are concerned that a fuel bank might limit their right to sovereign nuclear energy capabilities, even if western diplomats say the proposal makes clear that this would not be the case.

“Everybody knows that this is a proliferation initiative, that it is being done for the explicit purpose of making sure that some countries do not develop the fuel cycle,” said one diplomat from a developing country.

“Why push through something which people are not sure about?”…..

The proposal by Mohamed ElBaradei, the former head of the IAEA, envisages a bank, possibly located in Kazakhstan, buying 60 to 80 tonnes of low-enriched uranium (LEU) using $150m in member donations and offering it to states at market prices.

Barack Obama, the US president, has backed the idea and the US-based Nuclear Threat Initiative has pledged $50m to help make it a reality….

UN expected to approve nuclear fuel bank

November 18, 2010 - Posted by Christina Macpherson | 2 WORLD, politics international | antinuclear, nuclear, nuclear costs, nuclear technology, uranium