US bans Russian uranium imports that have powered American reactors until now

US President Joe Biden signed a law on Monday banning imports of enriched uranium from Russia, which until now has been a major fuel supplier to US nuclear power plants. It is the latest move by Washington to try to break away from the Russian economy in the wake of Russia’s aggression in Ukraine. The White House says it will also give a boost to nuclear power in the US.

Russia is the world’s largest producer of enriched uranium, and supplies from the country have accounted for about 24 percent of the nuclear fuel used in US power plants, Reuters reported. This may be why the ban on imports came much later than the equivalent measures against Russian oil and gas, which Congress approved shortly after Russia’s invasion in February 2022.

„It’s a little unbelievable that it took this long,“ Scott Melbye, vice president of uranium mining company Uranium Energy and head of the US uranium suppliers’ association Uranium Producers of America, told The Washington Post (WP).

„But we’re just glad we got here,“ he added.

The ban on imports of Russian nuclear fuel will take effect after 90 days. However, it allows the government to grant exemptions in cases where reactors could be shut down without Russian supplies. It also allocates $2.7 billion (over CZK 60 billion) previously released by Congress to support US uranium processing companies.

„This new law restores America’s leadership in the nuclear sector… It will kick-start new enrichment capacity in the United States and send a clear message to the industry that we are committed to supporting the growth of our nuclear sector over the long term,“ White House National Security Adviser Jake Sullivan said in a statement.

He said the move would also strengthen US energy and economic security by reducing dependence on Russian energy.

The WP reports that uranium exports are one of Russia’s last significant sources of revenue from the US. American companies pay Rosatom, the Russian state-owned company that oversees nuclear energy, around $1 billion a year for fuel.

Russian Ambassador to the US Anatoly Antonov responded to the ban’s approval by saying that the move was sending shockwaves through international economic relations but would not achieve its desired result. „Life has shown that the Russian economy is prepared for any challenges and quickly responds to new problems,“ Reuters quoted him as saying in a statement issued by the embassy on the social media platform Telegram.