US tries to ban Russian Uranium

A $4.3 billion plan aimed at weaning the US off Russian supplies of enriched uranium is awaiting congressional approval, according to unnamed sources close to the matter, as quoted by Bloomberg.

If approved, the plan will provide funds to purchase nuclear reactor fuel directly from US producers, allowing Washington to halt imports from Russia.

The US is the world’s largest producer of nuclear energy, accounting for about 20% of domestic electricity generation. Russia reportedly accounted for 16.5% of the uranium imported into the US in 2020 and 23% of the enriched uranium needed to run the country’s commercial nuclear reactors.

According to US Energy Secretary Jennifer Granholm, America’s dependence on Russian imports is a “vulnerability” to national and economic security.

The US has the capacity to mine uranium, but the country still relies heavily on Russia for uranium enrichment. Boosting the domestic uranium industry is not an easy move for the US, the agency said on Tuesday, adding that the country has only one commercial enrichment facility left in New Mexico — a New Mexico facility owned by Urenco, a British-German -Dutch consortium. A move away from Russian uranium could force the US to turn to Canada and Australia.

The proposal to ban Russian uranium is part of increasing US sanctions pressure on Moscow in response to its ongoing military operation in Ukraine.