Russia ratifies nuclear pact

RUSSIA: The Russian president Saturday ratified a civil nuclear energy pact with Japan that allows the transfer of Japanese technology to Russia and the sale of more Russian uranium to energy-poor Japan. President Dmitry Medvedev ratified the pact after it was passed by the lower and upper houses of the Russian parliament in December last year, the Kremlin said in a statement on its website. Russia and Japan signed the framework agreement in May 2009 when Prime Minister Vladimir Putin visited Tokyo.

The head of Russia's state nuclear agency, Sergei Kiriyenko, said at the time the pact would allow Russia and Japan to mine uranium jointly in Russia and in third countries such as Mongolia.

The pact would pave the way for contracts worth several billion dollars, Kiriyenko said.

Japan draws around a third of its total electrical power needs from its 54 nuclear reactors. It is searching for new markets to export infrastructure technologies including power plants.

Russia has sealed similar deals with countries including Britain, China, India, France, Kazakhstan and Ukraine, while Japan has concluded nuclear pacts with the European Union and countries including the United States and Turkey.

Moscow, Sunday, AFP