Low Enriched Uranium bank- Opened by UN nuclear watchdog IAEA in Oskemen, Kazakhstan

Low Enriched Uranium bank- Opened by UN nuclear watchdog IAEA in Oskemen, Kazakhstan
On Tuesday UN’s global nuclear watchdog, International Atomic Energy Agency (IAEA), has opened Low Enriched Uranium (LEU) Bank in Oskemen, Kazakhstan. The facility bank has the worth of 150-million dollars. It is designed to discourage new nations from enriching the nuclear fuel. IAEA aims to provide nuclear fuel to everyone without categorizing special one. IAEA works as a last resort for those countries that need nuclear fuel.

The Low Enriched Uranium (LEU) Bank can store up to 90 tonnes of the nuclear fuel at one time. It is as powerful as to power a big city for more than three years. It is second of its kind. IAEA proposed its 168 members state that it will supply the nuclear fuel on demand if they are unable to procure it elsewhere.
Russia has a similar bank since 2010. And this bank is operated under Russian government. But newly opened LEU Bank in Oskemen, Kazakhstan is first one that is fully owned and operated by the IAEA.

Low Enriched Uranium bank- Opened by UN nuclear watchdog IAEA in Oskemen, Kazakhstan

IAEA Director General Yukiya Amano said LEU Bank will serve as a last-resort to those countries that were unable to procure nuclear fuel from elsewhere. INEA provide nuclear fuel on one condition that they will get LEU for the manufacturing of nuclear power from nuclear fuel in nuclear plants, but they are not allowed to misuse the supplied fuel in the commercial production of nuclear weapons.

Countries such as Iran have said they need enrichment facilities to ensure a steady supply of fuel for nuclear power plants, and the idea behind the bank is to make such supply available without domestic enrichment.
IAEA Director General Yukiya Amano also said: “I am confident that the IAEA LEU Bank will make a valuable contribution to international efforts to ensure the availability of fuel for nuclear power plants.”
In a statement, IAEA said it will start shipping nuclear fuel to the bank, next year as it would begin buying uranium soon. The project was funded by donors, European Union, United States, United Arab Emirates, Kuwait, Norway etc.

All about International Atomic Energy Agency (IAEA)

International Atomic Energy Agency is an international organization. IAEA is responsible for the promotion and peaceful use of nuclear energy. IAEA keep vigil on its use for any military purpose including nuclear weapons. IAEA prohibit the misuse of nuclear fuel and energy world wide. The IAEA was established on 29 July 1957. IAEA reports to United Nations General Assembly and Security Council.
IAEA has its headquarters in Vienna. IAEA’s current Director General is Yukiya Amano. The IAEA has two Regional Safeguards Offices in Tokyo and Toronto. IAEA has two liaison offices in Geneva and New York City. IAEA also has three laboratories in Monaco, Vienna, and Seibersdorf.
The IAEA serves as an intergovernmental forum for the peaceful use of nuclear technology and nuclear power worldwide. IAEA program allows encouraging the development of the peaceful applications of nuclear technology to its member states. 168 member states are in IAEA. IAEA also provide international safeguards against misuse of nuclear materials and nuclear technology. IAEA promotes nuclear security, nuclear safety standards, and their implementation.

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