The Russian Federation decided to change the terms of the contract for the supply of uranium from Ukraine - from 10 years it will become three years
Ukraine and the Russian Federation plan to sign a new contract in the summer for the supply of uranium raw materials from Ukraine to the Russian Federation.
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This was announced by the General Director of JSC International Uranium Enrichment Center (IUEC), Gleb Efremov, Interfax reports.
“This year, the agreement on the creation of the IUEC was extended for the next 10-year period, but in the context of unclear current prices for uranium and uranium fuel components, we made a decision and agreed with Ukraine and with all our other shareholders that the next period of validity of the long-term agreement will be 3 years old,” said the top manager.
According to Efremov, “the signing of a three-year agreement is planned for July-August this year. The corporate approval process is currently underway, since the agreement has the characteristics of a transaction. As part of this agreement, we sign annual contracts, that is, for each year we determine the quantity of products that our shareholder requires. The contract for 2017 will also be signed at the same time as this long-term 3-year agreement.”
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