US President Joe Biden signed a law banning the import of unirradiated and low-enriched uranium from russia, according to the White House website. Before that, the initiative was supported in the House of Representatives and the Senate.
National Security Adviser Jake Sullivan explained that the ban is designed to "strengthen the energy and economic security" of the United States by "eliminating dependence on russia in the field of civilian nuclear energy."
According to Sullivan, the recently allocated USD 2.72 billion for nuclear power "will give impetus to the creation of new enrichment facilities in the United States, as well as a clear signal to the industry that we are committed to long-term growth in our nuclear sector."
The law signed by Biden will take effect in 90 days. According to the document, until January 2028, the US Department of Energy will be able to issue permits to import uranium from russia if there are no other sources of supply. It is assumed that the restriction will be in effect until 2040.
The share of uranium supplied from russia to the USA at this time is about 20%. The cost of these supplies in recent years was estimated at approximately USD 1 billion per year. In 2023, purchases increased to USD 1.2 billion, the US Department of Commerce reported in February. This could be related to the accumulation of stocks by American companies in anticipation of the embargo.
Russia accounts for about 45% of the world's uranium enrichment capacity and about 36% of the world market for its enrichment services. Rosatom stated that the US ban on the import of uranium has a "destructive nature for the sustainable functioning of the global market of goods and services of the nuclear fuel cycle."
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