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. Last Updated: 07/27/2016

Adamov Company Loses Uranium Case

A Stockholm arbitration panel earlier this week threw out a case filed by a company partly owned by former atomic energy chief Yevgeny Adamov over claims that Tenex broke a contract to supply uranium to the United States.

The claims filed by Globe Nuclear Services & Supply were dismissed by the arbitration panel, Federal Atomic Energy Agency spokesman Sergei Novikov said. GNSS was also ordered to pay about $6 million toward Tenex's legal costs, he said.

GNSS acted as a middleman for Tenex, a state-owned company that supplied low-enriched uranium to the United States as part of the so-called Megatons to Megawatts agreement.

Adamov was arrested in Switzerland in 2005 after the United States accused him of misappropriating $9 million in grants it gave Russia to increase security at its nuclear facilities. He was extradited to Russia and held on fraud charges.