20.05.2024, Washington.
The global redistribution in the enriched uranium market caused by the ban on imports from Russia threatens energy shortages in the United States or Europe. RIA Novosti wrote this on May 20.
Since Rosatom supplied the United States with about 20% of enriched uranium, and the restoration of its enrichment plants will take at least several years, the market for highly enriched uranium will face a turbulent period. The United States will likely be able to “strangle” the European nuclear power industry in order not to stop its power plants, according to the expert.
Russia mines about 6% of the world’s uranium, but Rosatom owns 40% of the world’s capacity to produce highly enriched nuclear fuel.
US President Joe Biden’s decision, adopted by the US Senate on May 13, will allow the USA in the long run to restore its own uranium processing industry, which was practically abandoned when, after the collapse of the Soviet Union, Russia supplied highly enriched weapons-grade material to the “West” at dumping prices.
Now the USA will have to rebuild an entire industry to not depend on imports, especially in the military sphere. Subsidies amounting to $ 2.7 billion are planned to be used to restore production. The largest uranium producer in the USA, Energy Fuels, registered in Lakewood, hopes to get its share. It has the only operating uranium plant in the country.
However, restoring the plants will take a long time and create “strategic uncertainty” in the nuclear power industry because of fuel shortages and the fact that countries dependent on US policy will not know whether they will be allowed to buy fuel for power plants built by Rosatom. There are many of them in the world. In 2014, Rosatom accounted for 41% (30 units) of all NPP units being designed worldwide.
Source: Rossa Primavera News Agency
