FactCheck.org
The 2010 deal allowed Rosatom, the Russian nuclear energy agency, to acquire a controlling stake in Uranium One, a Canadian-based company with mining stakes in the Western United States.
We covered it during the 2016 presidential campaign, when Donald Trump falsely accused former Secretary of State Hillary Clinton of giving away U.S. uranium rights to the Russians and claimed — without evidence — that it was done in exchange for donations to the Clinton Foundation.
Now, the issue is back in the news, and numerous readers have asked us about it again. So we will recap here what we know — and don’t know — about the 2010 deal.
The Deal
On June 8, 2010, Uranium One
announced it had signed an agreement that would give “not less than 51%” of the company to JSC Atomredmetzoloto, or ARMZ, the mining arm of Rosatom, the Russian nuclear energy agency.
At the time, Uranium One’s two licensed mining operations in Wyoming amounted to about “20 percent of the currently licensed uranium in-situ recovery production capacity in the U.S.,”
according to the Nuclear Regulatory Commission. In-situ recovery is the extraction method currently used by
10 of the 11 licensed U.S. uranium producers.
Uranium One also has
exploration projects in Arizona, Colorado and Utah.
But the deal required multiple approvals by the U.S., beginning with the
Committee on Foreign Investments in the United States. Under federal law, the committee
reviews foreign investments that raise potential national security concerns.
The Committee on Foreign Investments in the United States
The Committee on Foreign Investments has nine members, including the secretaries of the treasury, state, defense, homeland security, commerce and energy; the attorney general; and representatives from two White House offices (the United States Trade Representative and the Office of Science and Technology Policy).
The committee can’t actually stop a sale from going through — it can only approve a sale. The president is the only one who can stop a sale, if the committee or any one member “recommends suspension or prohibition of the transaction,” according to
guidelines issued by the Treasury Department in December 2008 after the department adopted its
final rule a month earlier.
For this and other reasons, we have written that Trump is
wrong to claim that Clinton “gave away 20 percent of the uranium in the United States” to Russia. Clinton could have objected — as could the eight other voting members — but that objection alone wouldn’t have stopped the sale of the stake of Uranium One to Rosatom.
“Only the President has the authority to suspend or prohibit a covered transaction,” the federal guidelines say. We don’t even know if Clinton was involved in the committee’s review and approval of the uranium deal. Jose Fernandez,
a former assistant secretary of state, told the
New York Times that he represented the department on the committee. “Mrs. Clinton never intervened with me on any C.F.I.U.S. matter,”
he told the Times, referring to the committee by its acronym.