“Any country thinking about investing billions of dollars in the construction of nuclear plants is sooner or later confronted by a question of how and where it can get nuclear fuel,” states Sergey Novikov, spokesperson of Russia’s state nuclear corporation Rosatom. “This center will provide these countries with a guarantee that, no matter what political situation they’re in, they can always get nuclear fuel: provided, of course, that the IAEA does not object.”

According to Russian officials, the agreement has nothing to do with Iran, which already has a contract with Moscow for the supply of low enriched uranium for the Russian-built Bushehr nuclear plant.

“It’s common knowledge that the Islamic Republic of Iran is today capable of enriching uranium up to 4 per cent, so they would not need this facility to gain access to low enriched uranium,” Novikov shared.

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The United States is currently working to create a similar facility under the IAEA auspices and many in Moscow believe in “the first come, first serve” approach.

“Initially the two countries hoped to create a joint center under the control of the IAEA but it didn’t work out and each went their separate ways,” Anton Khlopkov, Director of the Center for Energy and Security, explained. “But I think the two countries are still doomed to co-operate within the IAEA because each of them is interested in dissuading the other from acquiring nuclear weapons.”

Both Moscow and Washington say their nuclear reserves will be used if the need arises to supply the fuel to anyone who needs it.

For decades Moscow and Washington were racing to build their nuclear arsenals. Now they’re vying for the right to facilitate nuclear non-proliferation. It seems no matter what they do, the competitive spirit is always there, but now at least now it is for a good cause.