IAEA Approves Nuclear Fuel Bank Agreement with Kazakhstan

The International Atomic Energy Agency’s Board of Governors has approved an agreement that will create a nuclear fuel bank in Kazakhstan, the Department of State announced last week. The agreement between the IAEA and Kazakhstan will give IAEA member states access to low enriched uranium “for peaceful nuclear reactor fuel if they could not obtain LEU on the global commercial market,” the statement says. The agreement is meant to enable member states to acquire the fuel while supporting U.S. nonproliferation objectives. In doing so, the announcement notes that member states will be “reducing incentives for the spread of sensitive technologies to new countries.” The IAEA initially authorized the LEU bank in 2010 and chose Kazakhstan as its host nation in 2011. The bank, funded by voluntary donors, will be operated at the Ulba Metallurgical Plant in the city of Oskemen.