The United States still addicted to Russian uranium

2023-12-26 01:07:21

The raw materials column takes us today to the United States to talk about Russian enriched uranium. The United States is on track to ban imports of this essential fuel for nuclear power plants.

For almost two years and the start of the Russian invasion of Ukraine, practically all Russian energy exports, oil and gas in particular, have been subject to international sanctions at the instigation of the United States. The Russian nuclear consortium Rosatom, accused of fueling Vladimir Putin’s war machine, is also heavily sanctioned.

However, there is a source of energy that continues to arrive from Russian factories to their American customers: enriched uranium. The reason is simple, the United States needs it. The country is currently trying to relaunch a national uranium industry, but these are long processes.

Senators on vacation

In the meantime, you have to import. There is Kazakhstan, Canada and Australia, but one of the main world producers is Russia. In 2021, the United States imported 14% of the uranium from Russia intended to power more than 90 American power plants. Maybe it’s over.

Before going on vacation for the end-of-year holidays, the House of Representatives adopted a law banning the importation of Russian enriched uranium for 90 days after its enactment. There are still steps before this becomes effective, and the Senate must first vote on the text. The senators went on vacation without doing so. They could take care of it in 2024. There is undoubtedly a majority for that, but then Joe Biden must sign the law.

An election year

The text has one subtlety: it provides for exceptions to the ban if necessary. In other words, the import of Russian enriched uranium could be prohibited in principle, but permitted in practice. It must be said that doing without such a large supplier would automatically increase the price of fuel and therefore electricity. A pretty bad idea in the middle of an election year.

Also readUranium: Kazakhstan, an alternative to Russian influence?