Russia's new uranium bank

With the intention of stopping countries from developing their own Uranium enrichment infrastructure Russia has created a nuclear fuel bank. In this bank they will deposit Uranium ready to be used in nuclear reactors, which are different from the Uranium used in atomic bombs. They are trying to stop developing country from creating their own enrichment facilities that could, ultimately, be used to treat the mineral for atomic weapons and by doing that they will guarantee secure energy fuel distribution.

News Update:

-- 07 Dec 2010 --

Apparently the fuel market won't be affected by this initiative, mining that Brazil, Argentina and South Africa will still be allowed to export enriched uranium. I don't think this is going to last long though and is funny to see "free" countries taking freedom out of others. (Institute for defence studies and analysis).

-- 06 Dec 2010 --

Three days ago in Vienna the IAEA board approved the construction of the UN's fuel bank, making that two: one managed by Russia and the other by the IAEA (sponsored by Warren Buffett).

My opinion:
After documents published in WikiLeaks.org and many other stories of corruption and disgraceful abuse from Russian authorities, I don't think any country other than the old URSS partners will use fuel provided by this bank. The problem of unconditional reliance on a single country for providing energy is an old issue and diplomacy has come a long way far from this type of initiative that doesn't add in terms security and doesn't improve life on Earth.

The USA wants to create a similar bank for Iran and Syria with the International Atomic Energy Agency (IAEA) which has gone into "dirty-sheets" after revelations of "close relationship" with the US even though it is meant to be an impartial international organ.

Plus, countries like Brazil, India and Pakistan have their own enrichment facilities and although the last two have developed atomic bombs to trough on each other, they all comply with the IAEA and UN regulations. Politics and weapons are going the wrong direction again!