RUSSIA can be trusted with Australian uranium, a key business group has urged, despite fears Moscow might one day turn the exports into nuclear bombs.

Anti-nuclear campaigners are stepping up pressure on an influential parliamentary inquiry in the hope it will call for abandoning the deal to sell Australian yellowcake to Russia — potentially worth up to $1 billion a year.

The 15-member treaties committee is expected to finalise its report in coming weeks and several members have so far expressed serious concerns about the agreement.

The Australian Conservation Foundation's David Noonan said yesterday ratifying the deal would seriously undermine Labor's election promise to find ways to cut back the global nuclear arsenal.

Despite expert claims Russia already has plenty of weapons-grade material at hand, Mr Noonan said extra supplies would make it easier for Russia to divert uranium to its nuclear arms stockpile.

"Australia should not be considering further uranium trade with a country that cannot be relied on to use Australian uranium in any safe, secure or environmentally responsible way," he said.

Greens senator Christine Milne also warned yesterday that Russia could divert Australia's uranium to Iran.

But Michael Angwin, executive director of the Australian Uranium Association — an industry group representing major miners such as BHP Billiton — said it was very easy to stoke public fear about uranium sales.

"A lot of the debate in this area is the politics of 'could' — this could happen, this might happen, maybe that will happen," Mr Angwin said. "In our view, that's not a the best way to make a good decision."

He said Russia had shown a long-term commitment to international non-proliferation treaties and wanted Australian uranium to generate electricity.

"You can never guarantee that any country will behave absolutely properly in these areas, but if you look at the record of Russia, I think the judgement you can reach — and this is an area for judgements — is the prospect of Russia wanting to divert Australia's uranium for non-peaceful purposes is very slim," Mr Angwin said.

He said it was up to the Government to decide whether to take into account Russia's incursion into neighbouring Georgia, but that was a separate issue to nuclear weapons concerns.

The deal was signed off by John Howard last year during a visit by then Russian president Vladimir Putin to Sydney. The treaties committee must review the agreement before it comes into force.

Russia's ambassador this week warned the collapse of the deal would harm Australia's economic interests.