Hogan Lovells helps negotiate extension of U.S. - Russian suspension agreement for uranium imports
Washington D.C., 5 October 2020 – Global law firm Hogan Lovells represented enrichment services supplier Urenco USA Inc. in its effort to extend the Agreement Suspending the Antidumping Investigation on Uranium from the Russian Federation, which has governed trade between the United States and Russia in uranium products since 1992.
The agreement, which was finalized by the U.S. Department of Commerce and the Russian State Atomic Energy Corporation Rosatom today, will be extended through at least 2040.
Amendments to the agreement include phased reductions of U.S. imports of uranium from Russia as well as the periodic updating of the import quotas.
“We were glad to be able to help bring about a successful extension to this important trade agreement on behalf of our client,” said Hogan Lovells partner Jared Wessel. “The new agreement will serve as an important backbone for U.S. and Russian uranium trade for the next two decades.”
“We would like to thank the amazing team at the U.S. Department of Commerce for bringing the negotiations to a successful conclusion,” said Hogan Lovells partner Jonathan Stoel.
The Hogan Lovells team that represented Urenco USA in the negotiations included partners Wessel and Stoel, senior associate Michael Jacobson, and associates Barbra Kim and Nicholas Sparks. Hogan Lovells Senior Counsel and former U.S. Sen. Norm Coleman also assisted with the agreement.