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Us Russian Suspension Agreement

The total amount of Russian uranium and EEE material that could be imported would decrease from 2028, if the quota were to fall from 20% to 15%, where it remains until the agreement expires, the new agreement says. However, today, under the new agreement, these imports of Russian uranium are limited to about 7% on average of US reactor enrichment needs and from 2026, no more than 5%, Commerce said. VANCOUVER, British Columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) – enCore Energy Corp. (TSXV:EU); OTCQB:ENCUF (the “Company”) welcomes the announcement on September 12, 2020 by the U.S. Department of Commerce (“Commerce”) and the national atomic energy company Rosatom (“Rosatom”), on behalf of the Government of the Russian Federation, of a proposed amendment to the Agreement to Suspend the Anti-Dumping Investigation on Uranium of the Russian Federation (“Agreement”) originally signed in 1992. This change, once completed, will extend the agreement until 2040 and reduce the United States` dependence on Russian uranium during that period. Details of the proposed amendment are available in access.trade.gov (Ns A-821-802) and are also published in the Federal Register. The higher limit values between 2021 and 2027 will be or grandfather will be contracts signed by U.S. distribution companies with Tenex, Rosatom`s commercial enrichment distributor, before February 2019, when trade began negotiations with Russia for the extension of the agreement, the statement said. This is due to the fact that the new agreement fills a gap in the previous agreement, which allowed Russia to use the 20% quota to sell natural uranium and process it in addition to enrichment, the statement said. According to the new agreement, the amount of Russian enriched uranium that could be sold to U.S.

companies would reach 24 percent by 2021, fall to 20 percent by 2022, rise to 24 percent in 2023, and then remain at 20 percent until 2027. Commerce Secretary Wilbur Ross said in the statement, “This landmark agreement will help revive the U.S. nuclear industry while promoting America`s long-term strategic interests.” The changes to the agreement include a gradual reduction in U.S. uranium imports from Russia and the regular updating of import quotas. The higher limit values between 2021 and 2027 will take into account contracts signed before February 2019 by U.S. distribution companies with Tenex, Rosatom`s distributor for commercial enrichment, when trade negotiations were initiated with Russia for the extension of the agreement, the statement said. The amendment is unchanged from a draft amendment that was published for public notice in September. “This landmark agreement will help revive the U.S. nuclear industry while promoting America`s long-term strategic interests,” Commerce Secretary Wilbur Ross said. The agreement was created in 1992, when it was signed by the United States and Russia, after the suspension of an anti-dumping investigation on trade. A new Russian uranium suspension agreement will enter into force, announces Commerce On October 16, 1992, trade signed an agreement with the Russian Start Printed Page 64113 Ministry of the Atomic Energy Federation (MINATOM), ROSATOM`s predecessor, in accordance with Section 734 (l) of the Amended Customs Law of 1930 (the Act) which suspends the investigation into anti-dumping duties on uranium originating in the Russian Federation.

[1] The agreement was then concluded on 11 October 3996[3], amended on 7 May 1997[4] and 1 February 2008. [5] In accordance with the 2008 amendment, the Agreement and the underlying anti-dumping investigation are expected to be terminated on 31 December 2020. . . .