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Peaceful uses of nuclear energy
The UK fully supports the inalienable right of all States parties to the peaceful use of nuclear energy under the Nuclear Non-Proliferation Treaty (NPT).
Oil prices and climate change will make nuclear energy attractive to many, just as growing populations and economies in the developing world will make it increasingly necessary. There is already increased demand for the construction of new nuclear facilities worldwide.
Proliferation control needs to keep pace with this fast changing reality. Nuclear energy will only fulfil its full potential if it is developed within a culture of openness, transparency and confidence. There is a need for a new framework on nuclear fuel supplies, extending international control and supervision over the nuclear fuel cycle.
Multinational Approaches to the Nuclear Fuel Cycle
In 2005, Mohamed ElBaradei, the then Director General of the International Atomic Energy Agency (IAEA), invited specific proposals for Multinational Approaches to the Nuclear Fuel Cycle. To date, three proposals have been approved by the IAEA Board of Governors: a proposal for an IAEA fuel bank, a proposal for the establishment of a fuel reserve in the Russian Federation, and a UK proposal for a Nuclear Fuel Assurance. A Nuclear Fuel Assurance can underpin contracts for enrichment services and can provide further assurance to those countries seeking to avoid the huge cost and technological challenge involved in establishing their own nuclear fuel cycle.
