US President Joe Biden has signed into law H.R.1042, the Prohibiting Russian Uranium Imports Act, which bans the import of Russian uranium and aims to revive domestic nuclear fuel production. The law will take effect on August 11, 2024, but allows for waivers in cases where no alternative viable source of uranium is available or if imports are in the national interest. The implementation of the ban aligns with multilateral efforts to establish a resilient global uranium supply market free from Russian influence. The US has led a commitment with allies and partners to invest $4.2 billion in this effort. The law also unlocks $2.72 billion recently appropriated by Congress to expand domestic uranium enrichment and conversion capacity. The Biden-Harris Administration aims to build a secure nuclear fuel supply chain in the United States. [08f46084]
US President Joe Biden has signed into law a ban on the import of Russian nuclear reactor fuel, which begins in approximately 90 days. The ban allows for waivers in case of supply concerns. Russia is the world's top supplier of enriched uranium, accounting for roughly 35% of global fuel sales. About 24% of the enriched uranium used by US nuclear power plants comes from Russia. The law also unlocks $2.7 billion in funding to build out the US uranium fuel industry. The national security adviser, Jake Sullivan, said the law strengthens the nation's energy and economic security by reducing reliance on Russia for civilian nuclear power. Russia's ambassador to the US, Anatoly Antonov, said the decision disrupts the delicate balance of global economic relations. [76da5253]
Kremlin spokesman Dmitry Peskov has stated that the US ban on imports of enriched uranium from Russia will not have a critical effect on Russia's nuclear industry. Peskov argued that the ban is a result of the US's inability to compete with Russia's advanced nuclear industry. He also highlighted that Russia is the largest exporter of enriched uranium, accounting for roughly 35% of global fuel sales. The ban could potentially backfire on the US economy, as it currently relies on Russian uranium for a significant portion of its fuel supply. Despite the sanctions, Russia's nuclear industry is described as extremely competitive and will continue to develop. [b8e4b2c5]
Russian state-owned energy giant Rosatom has criticized the US ban on imports of enriched uranium from Russia, calling it discriminatory and non-market-oriented. The ban, signed into law by US President Joe Biden, is set to come into effect in 90 days. Russia provided almost a quarter of the enriched uranium used in US commercial nuclear reactors in 2022, making it America's top foreign supplier of the fuel that year. The move could undermine the global nuclear fuel market, as Russia hosts the world's largest uranium enrichment complex and is the largest exporter of enriched uranium with an estimated export value of $2 billion. The Kremlin assured that the ban would have no critical effect on Russia's nuclear industry, while Russian Ambassador to Washington Anatoly Antonov warned that it could backfire on the US economy. [b69e281c]
In addition to the ban on Russian nuclear reactor fuel imports, the United States has imposed sanctions on hundreds of firms and individuals tied to Russia's weapons development program. The sanctions also target Chinese firms accused of helping Russia evade sanctions and individuals connected to the death of Russian dissident Alexey Navalny. The measures aim to disrupt and degrade Russia's war efforts and supply networks. The announcement includes sanctions on firms in China, Azerbaijan, Belgium, Slovakia, Turkey, and the United Arab Emirates for assisting Russia in acquiring technology and equipment. These penalties aim to block them from using the U.S. financial system and prohibit American citizens from dealing with them. The sanctions come after President Biden signed a $95 billion war aid measure that includes assistance for Ukraine, Israel, Taiwan, and other global hot spots. [be373cc5]