In recent years, initiatives associated with guaranteed and non-discriminatory supplies of nuclear fuel, nuclear weapons and dual-use technology nonproliferation have been acquiring greater topicality.
Russia has become the first country to bring to life its proposal regarding the creation of a system of international centers providing nuclear fuel cycle services, including enrichment, on a non-discriminatory basis and under the control of the IAEA, announced by President of the Russian Federation Vladimir Putin at the EurAsia Economic Community Summit in St. Petersburg on January 25, 2006.
The International Uranium Enrichment Center in Angarsk has become the first of such centers established in pursuance of The Agreement between the Government of the Russian Federation and the Government of the Republic of Kazakhstan from May 10, 2007.
August 6, 2007, shareholders of the JSC IUEC held their first meeting and approved The Articles of Association of the Center. Semteber 5, 2007 JSC IUEC has been registered as a legal entity.
By present, the Republic of Armenia and Ukraine have joined the IUEC Agreement. The Center is open for other states, which meet their commitments under the Nuclear Nonproliferation Treaty of June 1, 1968 and share the objectives and tasks of the IUEC.
The IUEC key objective is the provision of guaranteed uranium enrichment services to its shareholders through guaranteed access to enrichment and conversion capacities of all Russian enterprises.
Besides, the initiative has further developed into the Fuel Bank established at the JSC IUEC, i.e. a reserve of low enriched uranium for guaranteed supply to other countries at request by the IAEA.