(CNN) -- Iran blasted a nuclear fuel bank approved by the world's main nuclear watchdog agency, saying the idea amounts to "nuclear apartheid"
The establishment of a nuclear fuel bank, approved by the main global nuclear watchdog, would amount to "nuclear apartheid," Iran's ambassador to the group said Saturday.
The International Atomic Energy Agency's board of governors authorized the agency Friday to establish a reserve of low enriched uranium, which would prevent the disruption of uranium for civilian use if supplies drop in the commercial market.
The effort got a big boost from billionaire U.S. investor Warren Buffett, who pledged $50 million through the Nuclear Threat Initiative.
Buffett and former U.S. Sen. Sam Nunn are leaders in the Nuclear Threat Initiative, which works to reduce the global threat of nuclear weapons.
"This is a breakthrough in global cooperation to enable peaceful uses of nuclear energy while reducing the risks of proliferation and catastrophic terrorism," Nunn said of the fuel bank in a statement. "If every country interested in nuclear energy also chooses to pursue uranium enrichment, the risk of proliferation of dangerous nuclear materials and weapons would grow beyond the tipping point. The IAEA fuel bank now gives countries an alternative to that choice and direction".
The nuclear agency, known by its acronym IAEA, said the initiative does not diminish a nation's right to establish or expand their own nuclear production. CNN
