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The Consolidated Appropriations Act, 2021, signed into law on December 27, includes the Energy Act of 2020 (Energy Act) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Taxpayer Act), which contains tax provisions important to the energy sector.
The US Department of the Treasury’s Committee on Foreign Investment in the United States (CFIUS) published proposed rule changes on May 21 addressing when parties must notify the Committee of proposed transactions.
The US Supreme Court issued its decision on June 17 in the case of Virginia Uranium, Inc. v. Warren. The Court affirmed the decision of the US Court of Appeals for the Fourth Circuit, which held that the Atomic Energy Act does not preempt Virginia’s statutory prohibition on uranium mining.
As confirmed by an April 21, 2017 Defense Nuclear Facility Safety Board report, the Department of Energy (DOE) initiated the first in a series of long-awaited shipments of liquid Highly Enriched Uranium (HEU or target residue material) from Ontario, Canada’s Chalk River reactor to DOE’s Savannah River Site in Aiken, South Carolina. The target residue material stems from the legacy Atoms for Peace program, where the United States provided HEU for use, in part, as target material to be irradiated for the production of medical isotopes in foreign research reactors.
Russia recently suspended or terminated its nuclear agreements with the United States, further deteriorating diplomatic relations between the two countries.