Uranium Exports to US Limited by Russia
The Russian government has implemented temporary limitations on the export of enriched uranium in response to Washington's recent import ban. Read Full Article at RT.com.
TroibNews 
The Russian government has announced a temporary cap on the export of enriched uranium to the US as a reaction to Washington’s ban on the purchase of Russian nuclear fuel.
A document released online by the Russian government on Friday outlines that this export limitation also applies to transactions under foreign trade agreements involving individuals or entities registered within US jurisdiction. However, an exception will be made for supplies covered by one-time licenses granted by the Federal Service for Technical and Export Control.
This decision was implemented following instructions from the Russian president, as stated in the document.
In September, Vladimir Putin proposed restricting exports of certain strategically important raw materials, including uranium, as a countermeasure to Western efforts aimed at limiting Russia’s access to specific foreign-made goods. He noted in a government meeting that despite Western restrictions, Russia continues to supply various goods to the global market “in large quantities,” with some buyers actively stockpiling Russian products.
In May, US President Joe Biden signed a bill that prohibits imports of Russian enriched uranium, despite cautions about potential negative repercussions for the American economy. Nonetheless, the legislation permits shipments to proceed under a system of waivers. The US Department of Energy has the authority to issue waivers until 2028 when no alternative to Russian low-enriched uranium exists or if shipments are deemed to be in the national interest. The ban also includes approximately $2.7 billion in federal funds aimed at developing new enrichment capacity in the US to strengthen its civilian nuclear industry.
In 2022, Russia supplied nearly a quarter of the enriched uranium used in US commercial nuclear reactors, making it the leading foreign supplier of this fuel that year, according to data from the US Energy Information Administration.
While the US has its own uranium deposits, they fall short of meeting demand. In contrast, Russia operates the world's largest uranium enrichment complex, which constitutes nearly half of global capacity. This fuel is essential for both civilian nuclear power generation and military nuclear weapons.
Russia’s share of the enriched uranium market is projected to be around 40%, with an export value of approximately $2.7 billion.
Following the announcement of Russian export restrictions, uranium prices surged on Friday, with bids for November 2025 delivery increasing by $4 to $84 a pound, according to market research firm UxC.
“There would be some utilities maybe that would be expecting that material and now might not get it,” said Jonathan Hinze, president of UxC, in comments to Bloomberg. He noted that while most deliveries for this year have been completed, the impact of the ban could begin to be felt in 2025, potentially leaving some without alternative suppliers.
James del Carmen for TROIB News
A document released online by the Russian government on Friday outlines that this export limitation also applies to transactions under foreign trade agreements involving individuals or entities registered within US jurisdiction. However, an exception will be made for supplies covered by one-time licenses granted by the Federal Service for Technical and Export Control.
This decision was implemented following instructions from the Russian president, as stated in the document.
In September, Vladimir Putin proposed restricting exports of certain strategically important raw materials, including uranium, as a countermeasure to Western efforts aimed at limiting Russia’s access to specific foreign-made goods. He noted in a government meeting that despite Western restrictions, Russia continues to supply various goods to the global market “in large quantities,” with some buyers actively stockpiling Russian products.
In May, US President Joe Biden signed a bill that prohibits imports of Russian enriched uranium, despite cautions about potential negative repercussions for the American economy. Nonetheless, the legislation permits shipments to proceed under a system of waivers. The US Department of Energy has the authority to issue waivers until 2028 when no alternative to Russian low-enriched uranium exists or if shipments are deemed to be in the national interest. The ban also includes approximately $2.7 billion in federal funds aimed at developing new enrichment capacity in the US to strengthen its civilian nuclear industry.
In 2022, Russia supplied nearly a quarter of the enriched uranium used in US commercial nuclear reactors, making it the leading foreign supplier of this fuel that year, according to data from the US Energy Information Administration.
While the US has its own uranium deposits, they fall short of meeting demand. In contrast, Russia operates the world's largest uranium enrichment complex, which constitutes nearly half of global capacity. This fuel is essential for both civilian nuclear power generation and military nuclear weapons.
Russia’s share of the enriched uranium market is projected to be around 40%, with an export value of approximately $2.7 billion.
Following the announcement of Russian export restrictions, uranium prices surged on Friday, with bids for November 2025 delivery increasing by $4 to $84 a pound, according to market research firm UxC.
“There would be some utilities maybe that would be expecting that material and now might not get it,” said Jonathan Hinze, president of UxC, in comments to Bloomberg. He noted that while most deliveries for this year have been completed, the impact of the ban could begin to be felt in 2025, potentially leaving some without alternative suppliers.
James del Carmen for TROIB News
