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Russian Suspension Agreement Extension

The Russian suspension agreement is a trade agreement between the United States and Russia that suspends an anti-dumping investigation into Russian uranium and allows limited imports with an annual quota. On September 12, the U.S. Department of Commerce and Rosatom signed a proposal to extend the agreement until 2040 to prevent the introduction of new tariffs on imports from Russia that would have disrupted the U.S. nuclear fuel market. 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. However, under the new agreement, these imports of Russian uranium are limited to about 7% of the enrichment needs of U.S. reactors on average and do not exceed 5% from 2026, Commerce said. „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 agreement, which was reached today by the U.S. Department of Commerce and state-run atomic energy company Rosatom, will be extended until at least 2040.

The amendment remains unchanged from a proposed amendment submitted to the public for notice in September. „This pioneering agreement will help revitalize the U.S. nuclear industry while promoting America`s long-term strategic interests,” said Commerce Secretary Wilbur Ross. On 16 October 1992, Commerce signed an agreement with page 64113 of the Ministry of the Atomic Energy Federation (MINATOM), rosaTOM`s predecessor, in accordance with Section 734 (l) of the amended 1930 Customs Act (the Law) and suspended the anti-dumping investigation into uranium from the Russian Federation. [1] The agreement was subsequently amended, in agreement with both governments, on 11 March 1994[2] on 3 October 1996[3] 7 May 1997[4] and 1 February 2008. [5] In accordance with the 2008 amendment, the underlying anti-dumping agreement and investigation is expected to expire on December 31, 2020. Hogan Lovell`s team, which represented Urenco USA in the negotiations, included partners Wessel and Stoel, senior partner Michael Jacobson, and collaborators Barbra Kim and Nicholas Sparks. Hogan Lovell`s senior adviser and former U.S.

Senator Norm Coleman also contributed to the agreement. This bill extends restrictions on the importation of low-enriched Russian uranium, a fuel for nuclear reactors, and contains other related provisions. (These limit values stem from an agreement with Russia in 1992 to close an anti-dumping investigation by the Ministry of Commerce into Russian uranium imports.) This is because the new agreement fills a gap in the previous agreement, which allowed Russia to use the 20% quota to sell not only enrichment, but also natural uranium and processing, he said.

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