Australia agrees to sell Uranium to India

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Australia agrees to sell Uranium to India

Mr.Tony Abbott the Australian Prime Minister told parliament today that he plans to sign a deal this week to sell uranium to India for peaceful power generation according to Times of India. Australia has 40% of the world’s uranium which makes them the largest exporter. This is very significant for India as our need for uranium has increased over the years and if this agreement is finalized, it would go a long way in meeting India’s energy needs by using nuclear power. PM Abbott is coming to visit India on 4th of September.

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How other nations will react to this new development will only be known later, but with growing tension in Ukraine and the downing of the Malaysian Airline Canberra has halted the sale of uranium to Russia because of the sections.

While speaking to the parliament with regards to the question about Russian involvement in Eastern Ukraine Mr. Abbot said “There will be no uranium sales to Russia until further notice and Australia has no intention of selling uranium to a country which is so obviously in breach of international law as Russia currently is.”

This sale will only go through if India agrees to use the sale of uranium only for peaceful purpose and agrees to safeguard all standards. Mr. Abbott while speaking in the parliament today said “I am hoping to sign a nuclear cooperation agreement that will enable uranium sales by Australia to India”.

When the question of safeguard was asked Trade Minister Andrew Robb said the government has “satisfied ourselves that the steps are in place” and “The negotiations and work that’s gone on between authorities in India and Australia have gone on for some years to develop a bilateral nuclear cooperation agreement which meets the international requirements and we are satisfied, our officials are satisfied, that all the requirements have been met.”

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