International Uranium Enrichment Center Joint Stock Company was founded on September 5, 2007.

Founders: Rosatom State Corporation, NAC Kazatomprom JSC, Nuclear Fuel State Concern and Armenian Nuclear Power Plant CJSC.

IUEC JSC is the international center for providing nuclear fuel cycle services, including enrichment under IAEA supervision on the basis of non-discriminatory access.

The main task of IUEC JSC is to provide guaranteed uranium enrichment services to its shareholders at the expense of guaranteed access to the separated and sublimate capacities of all Russian companies.

A nuclear fuel bank was established under IUEC JSC to provide for a low enriched uranium reserve for guaranteed deliveries to other countries on the IAEA's request.