China's Uranium Imports from Russia Increase by Threefold
According to customs data analyzed by RIA Novosti, Moscow is poised to become Beijing’s largest foreign supplier of nuclear fuel in 2024. Read Full Article at RT.com.
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Moscow has previously prohibited the export of strategically significant nuclear fuel to Washington.
Beijing is set to emerge as the largest importer of Russian nuclear fuel this year, following Moscow's ban on enriched uranium exports to the United States in retaliation for Washington's selective restrictions.
In the last ten months, China has acquired $849 million worth of enriched uranium from Russia, marking a 3.2-fold increase over the same period last year, according to customs data analyzed by RIA Novosti. In October, imports surged, doubling from September to reach $216 million.
South Korea has also ramped up its imports, totaling $650 million during the same timeframe, making it the second-largest importer of Russian nuclear fuel.
The United States, which was Russia's primary customer last year, has scaled back its purchases by nearly a third. In the first nine months of this year, it imported $574 million worth of Russian nuclear fuel and has dropped to third place.
Earlier this year, Washington implemented a ban on the purchase of Russian low-enriched uranium but permitted the Department of Energy to issue waivers until 2028 in situations where no alternatives exist or if the shipments are considered “in the US national interest.” In 2022, Russia accounted for approximately a quarter of the enriched uranium used in US commercial nuclear reactors, according to the US Energy Information Administration.
In reaction to Washington's selective restrictions, Moscow announced last week that it would ban enriched uranium exports to the US entirely. This includes shipments to other countries that fall under foreign trade agreements with entities registered in American jurisdiction. Exceptions will be available only for supplies under one-time licenses approved by the Federal Service for Technical and Export Control, provided they align with Russia’s own “national interests.”
Russia boasts the world's largest uranium enrichment complex, which generates nearly half of the global capacity. Its share of the enriched uranium market is estimated to be around 40%, with an export value of $2.7 billion.
President Vladimir Putin mentioned in a government meeting in September that some countries were stockpiling Russian resources and goods while imposing restrictions on Moscow. He proposed limiting the export of certain strategically important raw materials, including uranium, in response to Western efforts to restrict Russia’s access to foreign-made products.
Alejandro Jose Martinez for TROIB News
Beijing is set to emerge as the largest importer of Russian nuclear fuel this year, following Moscow's ban on enriched uranium exports to the United States in retaliation for Washington's selective restrictions.
In the last ten months, China has acquired $849 million worth of enriched uranium from Russia, marking a 3.2-fold increase over the same period last year, according to customs data analyzed by RIA Novosti. In October, imports surged, doubling from September to reach $216 million.
South Korea has also ramped up its imports, totaling $650 million during the same timeframe, making it the second-largest importer of Russian nuclear fuel.
The United States, which was Russia's primary customer last year, has scaled back its purchases by nearly a third. In the first nine months of this year, it imported $574 million worth of Russian nuclear fuel and has dropped to third place.
Earlier this year, Washington implemented a ban on the purchase of Russian low-enriched uranium but permitted the Department of Energy to issue waivers until 2028 in situations where no alternatives exist or if the shipments are considered “in the US national interest.” In 2022, Russia accounted for approximately a quarter of the enriched uranium used in US commercial nuclear reactors, according to the US Energy Information Administration.
In reaction to Washington's selective restrictions, Moscow announced last week that it would ban enriched uranium exports to the US entirely. This includes shipments to other countries that fall under foreign trade agreements with entities registered in American jurisdiction. Exceptions will be available only for supplies under one-time licenses approved by the Federal Service for Technical and Export Control, provided they align with Russia’s own “national interests.”
Russia boasts the world's largest uranium enrichment complex, which generates nearly half of the global capacity. Its share of the enriched uranium market is estimated to be around 40%, with an export value of $2.7 billion.
President Vladimir Putin mentioned in a government meeting in September that some countries were stockpiling Russian resources and goods while imposing restrictions on Moscow. He proposed limiting the export of certain strategically important raw materials, including uranium, in response to Western efforts to restrict Russia’s access to foreign-made products.
Alejandro Jose Martinez for TROIB News
