US is ready to ban the supply of Russian uranium — FT
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US is ready to ban the supply of Russian uranium — FT

Source:  Financial Times

The administration of US President Joe Biden intends to ban the supply of Russian uranium.

What is known about the US ban on the supply of Russian uranium

The publication notes that previously the US has 93 nuclear power plants was heavily dependent on trade. Western producers have been stockpiling for nearly two years, while companies such as Urenco, France's Orano and America's Centrus have been developing supply chains and ramping up production capacity.

The U.S. nuclear industry expects a ban on Russian imports of enriched uranium to go into effect this year after the U.S. House of Representatives voted bipartisanly in favor of the measure in December.

An analyst at ClearView Energy Partners, Timothy Fox, said the Nuclear Energy Institute's support for the ban suggests there is "no significant risk at this time to the continued operation" of power plants that are members of the trade association.

The nuclear industry is experiencing a boom that has not been observed for 30 years, due to the need to introduce emission-free energy to achieve climate goals and ensure energy security after the war in Ukraine, said Borys Shukhta, CEO of the British-Dutch Urenco.

He said that developing a new generation of so-called small modular reactors (SMRs), which are more efficient than standard reactors and run on Haleu energy, is also driving the industry.

What is known about sanctions against the Russian nuclear industry

It was previously reported that the US plans to produce uranium fuel independently to reduce dependence on Russia.

The department has about $500 million in funding for uranium fuel production under the 2022 inflation and reduction law, and late last year invited proposals for additional production services for uranium fuel.

By the way, the President of Ukraine Volodymyr Zelenskyy called on the EU to impose sanctions on Rosatom and Russia's nuclear industry.

In addition, the US Congress supported a bill banning the purchase of nuclear fuel from Russia.

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