Australia, which has one of the world's largest reserves of uranium, on Friday signed a landmark deal with Russia for export of the material to Moscow.
MELBOURNE: Australia, which has one of the world's largest reserves of uranium, on Friday signed a landmark deal with Russia for export of the material to Moscow with the condition that it will be used for generating nuclear power only and not be passed for Iran's controversial atomic programme.
Australian Prime Minister John Howard and Russian President President Vladimir Putin signed the deal on the sidelines of the APEC Summit in Sydney.
The signing of the deal came days after the Australian government expressed its readiness to sell uranium to India. Howard had spoken to Prime Minister Manmohan Singh last month after the Australian Cabinet decided to negotiate a uranium trade pact with India.
About the deal with Russia, Howard said "stringent" controls would be put in place to ensure that the uranium is not resold for use in nuclear weapons while Putin termed the agreement as purely an "economic" one.
Russia has strong ties with Tehran, which has been criticised by the US and European countries for its disputed nuclear programme.
The Australian Prime Minister rejected suggestions that Russia could use the yellowcake to further its weapons programme.
"Any uranium that is sold to Russia will be sold under very strict safeguards," Howard told reporters after meeting the Russian leader.
"This new agreement will allow the supply of Australian uranium for use in Russia's civil nuclear power industry and provide a framework for broader cooperation on peaceful nuclear-related activities."
Putin also dismissed suggestions that uranium stocks would be used for military purposes either by Russia or any third party.
"I simply don't understand what people are talking about," he said. "We are buying uranium from Australia for purely economic reasons."
Both Howard and Putin insisted there would be no negative consequences from Australia's uranium deal with Russia.
Putin made it clear that the Australian uranium stocks would only be used for nuclear energy, indicating Russia already had excess weapons grade material.
"For Russia to implement (our) military programmes the existing materials are sufficient, moreover, as a volume the materials which we regard as weapons grade, is excessive," he said.
"Those who say that Russia will use Australian uranium for military purposes they simply do not understand or they give this thesis on purpose to impede the cooperation of both countries."
The Russia leader also denied that the Australian material would be resold to countries like Iran, saying "if we have a need to sell uranium to other countries our own resources are sufficient."
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