Uranium Suspension Agreement

“We were pleased to be able to contribute, on behalf of our client, to the successful extension of this important trade agreement,” said Jared Wessel, partner of Hogan Lovells. “The new agreement will serve as the cornerstone for the U.S. and Russian uranium trade for the next two decades.” Washington D.C., October 5, 2020 – Global law firm Hogan Lovells represented urenco USA Inc. in its bid to expand the agreement to suspend the Anti-Dumping Investigation of Uranium by the Russian Federation, which has governed the exchange of uranium-based products between the United States and Russia since 1992. New Russian uranium suspension agreements enter into force, says imports of uranium ores and concentrates, natural compounds of uranium, and all forms of enriched uranium are currently sub-positions according to the United States Harmonized Customs Plan (HTSUS) sub-positions: 2612.10.00, 2844.10.20, 2844.20.00 and imports of natural metal and other forms of natural uranium as compounds are currently classified under the HTSUS sub-position 2844.10.10 and 2844.10.50. HTSUS sub-positions are made available for convenience and law. The written description of the magnitude of this procedure is a device. “This pioneering agreement will help revitalize the U.S. nuclear industry while promoting America`s long-term strategic interests,” said Commerce Secretary Wilbur Ross. “This is another success for the Trump administration`s America First approach to international trade agreements.” The russian state nuclear company Rosatom`s trade and nuclear company signed the new agreement 5 October, said Trade. The new agreement remains unchanged from a September 11 proposal, he said.

The trade in the APO granted in the segment of the suspension agreement of this proceeding remains valid and valid for the amended agreement. All new interested parties seeking access to commercial information submitted during the management of the amended agreement under the current APO must apply apo in accordance with current trade rules. [10] Under the new agreement, the amount of enriched uranium from Russia that could be sold to U.S. companies would increase to 24 percent in 2021, fall to 20 percent in 2022, 24 percent in 2023, and then remain 20 percent in 2027. Since 2008, the suspension agreement has limited Russian uranium imports to 20% of the enrichment needs of U.S. reactors, calculated in separate work units (SEAs). It would have expired on 31 December if the proposal had not been finalised. The U.S. Department of Commerce (Commerce) and the state-run atomic energy company Rosatom (Rosatom) have signed, on behalf of the Government of the Russian Federation, a final amendment to the agreement suspending the anti-dumping investigation into uranium of the Russian Federation (agreement).

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