Recently, issues related to the effects (benefit or harm) of processing nuclear waste and its further use as fuel have been increasingly often raised in the scientific discussion. In this regard, the research aims to investigate issues related to the assessment of the economic potential of nuclear waste use, as well as the cooperation between states in the context of the reduction of risks associated with nuclear waste storage and processing. The research methodology is based on an integrated approach, including statistical, factor analysis, and the proposed system of performance indicators for managing spent nuclear fuel use. The research was carried out on the basis of materials from Russia and the EU countries. In the course of the study, a model of cooperation between states has been developed (based on the example of technologies and methods of processing nuclear waste used in the EU and Russia) according to the nuclear waste (spent nuclear fuel) management algorithm. The model considers the risks and threats associated with ecology and safety. The developments and other results described in the study should be used in further research devoted to the use of nuclear waste as heat-producing elements.