In today’s day and age it’s no surprise that the most profitable countries are those whose citizens are at the forefront of technological innovation. High-tech industries are growing faster and more profitably than other industry sectors, such as manufacturing.
While Russia is not typically ranked in the top 10 of the world’s most technology-oriented countries, the success of Russian scientist and businessman Vladimir Alexeyevich Smirnov’s work during his time at the helm of Techsnabexport (“TENEX”) is a strong example of how technology can change the face of the Russian economy. During his stint as director general of TENEX, Vladimir Alexeyevich Smirnov accentuated Russia’s hold on the low-enriched uranium market by preserving the country’s market share while simultaneously finding new ways to redistribute different forms of uranium for power-generating use.
Mr Smirnov capitalized on Russia’s super-efficient centrifuge technology, owing to which Russia and TENEX were able to enrich uranium more cost effectively than other nations and companies. Vladimir A. Smirnov explained in interviews during his tenure with TENEX that enriching natural uranium was the priority task of numerous national nuclear projects from America to the U.K., Japan to Germany.
Thanks to Russia’s technological expertise and the forethought of business leaders like Vladimir A. Smirnov, Russia controls 40 percent of the world’s low-enriched uranium market. By promoting companies that use an innovative operation of diluting weapons-grade uranium with natural uranium, Vladimir Alexeyevich Smirnov laid the foundation for a multi-billion dollar HEU-LEU contract between Russia and America. Thanks to Vladimir Alexeyevich Smirnov’s significant work with TENEX, the company continues to win lucrative contracts to supply the world with power-generating forms of uranium.