Summary: S.3275 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for S.3275. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (12/07/2000)

Russian Fissile Materials Disposition Loan Guarantee Act of 2000 - Authorizes the Secretary of Energy, with the President's approval, to guarantee loans (principal and up to three percent interest) made to the Government of the Russian Federation (GRF) for purposes of nuclear nonproliferation programs and activities. Limits to $1 billion the aggregate amount of loan principal covered by guarantees at any one time. Limits the loan principal to increments of $20 million at a term of at least 15 years.

Makes eligible for such guarantees any loan by a private lender to the GRF the proceeds of which are to be used for one or both of the following purposes: (1) support of GRF nuclear nonproliferation programs and activities; and (2) development of the energy infrastructure of the Russian Federation, including peaceful uses of nuclear energy in compliance with the Nuclear Nonproliferation Treaty. Denies guarantee eligibility for any loan whose proceeds are to be used for any purpose or activity under the Plutonium Disposition Agreement, including to cover the costs of the manufacture and use of mixed oxide (MOX) fuel in Russia under the Plutonium Disposition Agreement.

Requires the GRF, as security for each $20 million principal increment of a guaranteed loan, to place one metric ton of weapons-usable plutonium and one metric ton of weapons-usable highly enriched uranium under International Atomic Energy Agency (IAEA) safeguards at a facility in Russia.

Earmarks certain authorized appropriations to cover IAEA expenses in implementing and maintaining such safeguards.

Authorizes appropriations.