Russia has announced restrictions on the export of enriched uranium to the United States, raising concerns about supply risks for U.S. nuclear power plants that sourced a quarter of their enriched uranium from Russia last year. This move comes in response to a U.S. ban on Russian uranium imports enacted earlier this year.
Background:
The Russian government stated that the temporary restrictions are a retaliatory measure against Washington’s import ban, which includes waivers allowing for continued shipments in case of supply shortages through 2027.
Russia is the sixth largest uranium producer globally and controls approximately 44% of the world’s uranium enrichment capacity.
Import Statistics:
In 2022, Russia supplied 27% of the enriched uranium used by U.S. commercial nuclear reactors. However, imports from Russia decreased by 30% this year, totaling 313,050 kilograms (about 690,160 lbs) through July.
The U.S. and China were the top importers of Russian uranium in 2023, followed by South Korea and France.
Government Actions:
President Vladimir Putin indicated on September 11 that Russia should consider limiting exports of uranium, titanium, and nickel in response to Western sanctions.
The recent government decree marks the first concrete action following Putin’s statement.
Current Export Conditions:
Despite the restrictions, the decree allows companies authorized by Russia’s export control watchdog to continue exporting uranium to the U.S.
It remains unclear whether the U.S. has imported any uranium from Russia since the ban took effect in August.
Concerns Over Chinese Imports:
The U.S. is investigating a notable increase in enriched uranium imports from China since late 2023, amid fears that these shipments may be enabling Russia to circumvent the U.S. import ban on its nuclear fuel.