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Obama Pushes Global Uranium Fuel Bank

Shared supply would undercut Iran's claims of 'peaceful' enrichment

By Jason Farago,  Newser Staff

Posted Jun 9, 2009 10:33 AM CDT
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(Newser) – President Obama has proposed the creation of a global supply of uranium that would allow nations to obtain fuel for civilian nuclear power but would curtail rogue states' ability to build weapons. An international bank could hamper Iran's efforts to justify its covert enrichment program, the Boston Globe reports. "We want to give the Iranians an opportunity to demonstrate their commitment to peaceful nuclear energy," said a White House official.

In his Cairo speech, Obama said the Middle East needed to remain WMD-free but insisted that "any nation—including Iran—should have the right to access peaceful nuclear power." The International Atomic Energy Agency, the UN's nuclear watchdog, is also in favor of a uranium bank. In a report last week, the agency underlined the importance of a new international architecture for uranium, noting that it was becoming more difficult to track enrichment activities in Iran and Syria.

Mohamed ElBaradei, director general of the International Atomic Energy Agency, is supporting efforts for a global uranium bank.
Mohamed ElBaradei, director general of the International Atomic Energy Agency, is supporting efforts for a global uranium bank.   (AP Photo/Michael Sohn, file)
A meeting of the IAEA in Vienna, Austria Tuesday, May 26, 2009.
A meeting of the IAEA in Vienna, Austria Tuesday, May 26, 2009.   (AP Photo/Hans Punz)
President Barack Obama listens to Vice President Joe Biden during a meeting with Cabinet members, Monday, June 8, 2009, in the State Dining Room of the White House in Washington.
President Barack Obama listens to Vice President Joe Biden during a meeting with Cabinet members, Monday, June 8, 2009, in the State Dining Room of the White House in Washington.   (AP Photo/Pablo Martinez Monsivais)
Iranian President Mahmoud Ahmadinejad, center, visits the Natanz Uranium Enrichment Facility some 200 miles south of Tehran.
Iranian President Mahmoud Ahmadinejad, center, visits the Natanz Uranium Enrichment Facility some 200 miles south of Tehran.   (AP Photo/Iranian President's Office, file)
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COMMENTS
Showing 3 of 3 comments
Chudluv
Jun 10, 2009 1:36 AM CDT
LOL a bank... Please read "Black Gold, Hot Gold"
northeast
Jun 9, 2009 4:22 AM CDT
When he says that "any nation" should be able to enjoy nuclear power, does he include the US? He does presuppose that nuclear power is a "right," which is a very good sign for our alternative energy plans.
Robert_Dada
Jun 9, 2009 4:15 AM CDT
This is good. If they truly are pursuing peaceful use, then this demonstrates our commitment to them. If not, then it will be more certain and obvious what they are up to. Based on them telling us they only want peaceful use of uranium, they have nothing to fear by going along with this approach.

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Iran • Barack Obama • nuclear power • IAEA • nuclear weapons • International Atomic Energy Agency • uranium enrichment • uranium • nuclear enrichment

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