Nikolay Podlevsky, Head of Analytical Department of Zerich Capital Management IC

– Russia and the United states are beginning to cooperate not only in the field of nuclear power engineering but also in the sphere of high technologies, which is a serious breakthrough

During a meeting in Washington, DC, on July 21 2009 representatives of Techsnabexport OJSC (Tenex, 100% subsidiary of Atomenergoprom OJSC) and Constellation Energy Nuclear Group (CENG) signed a long-term contract for the supply of enriched uranium to the United States. CENG operates five reactors in the states of Maryland and New York for Constellation Energy (CEG). The contract is supposed to meet part of CENG’s demand for nuclear energy in 2015–2025. This is the sixth contract Tenex has signed with US power companies since May 2009. The first two contracts have already been approved by the US Department of Energy.

In Feb the parties agreed on the supply of enriched uranium and on cooperation in the field of peaceful use of nuclear energy. This contract proves that these agreements are being put into practice. It will significantly enhance the trade turnover between Russia and the Untied States: for the moment it is not very big and can be compared with our military export.

Still, politically this contract means much more than economically. This is a real attempt at rapprochement. Russia and the United states are beginning to cooperate not only in the field of nuclear power engineering but also in the sphere of high technologies, which is a serious breakthrough.

And I would like to point out the fact that the contract was signed right after the visit of US President Barack Obama to Moscow.