Since the mid-1990s, a majority of uranium used in the production of electricity in the United States comes from decommissioned Russian nuclear warheads. The “Megatons to Megawatts” (‘MtM’) Agreement, signed by the United States and the Russian Federation, heralded a new era of cooperation in nuclear deterrence. It also had an unprecedented influence on the market for nuclear fuel in the United States. This article focuses on the impact this agreement has had on the market for nuclear fuel, which will definitely outlast the MtM Agreement that is scheduled to expire in 2013. In clarifying this largely unknown element of the U.S. nuclear cycle, this article argues that the MtM Agreement has led the uranium enrichment market in the United States to develop domestically—a process which is likely to increase and to bear fruit (i.e. increased quantities of US produced nuclear fuel) in the coming years.
Available at: http://works.bepress.com/christodoulos_kaoutzanis/1/