Pleiades has ‘no chance’

29 April 1999

The US Pleiades Group, which has filed a lawsuit against Tenex relating to the US / Russian HEU deal has no chance of winning and will only delay the process, according to Russian Atomic Minister Yevgeny Adamov. Pleiades is demanding $1 billion in intermediary services for deliveries of Russian uranium to the US.

“This can hardly be considered civilised,” Adamov said. Russia needs this money to increase safety at atomic plants and to pay wages. “It is a matter of state importance and the state will not hand over this money to a commercial operation.” Pleiades filed the suit at Washington district court to block deliveries of converted Russian uranium to the US, arguing that the contract with Cameco, Cogema and Nukem violated the terms of a contract it signed with Tenex in 1997 requiring Tenex to sell uranium through Pleiades. The three companies opposed the involvement of Pleiades, new to the uranium market, fearing that it would dump the uranium and cause a drop in prices. The US Justice Department has requested the court to throw out the case, saying it is against US national interests.



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