Media reports US consuming more than USD1 billion on Russian uranium
Date
1/15/2024 7:35:33 AM
(MENAFN) In a surprising revelation, it has come to light that the United States imported over USD1 billion worth of Russian uranium between January and November 2023, as reported by RIA Novosti, citing data from the United States statistics service. The figures indicate a significant dependence on Russian nuclear fuel, with November alone witnessing exports amounting to $96 million. This marks a pivotal moment as Russia emerges as the primary provider of uranium to the United States, a status it hasn't held since May when supplies totaled USD177 million.
The escalating tension between the United States and Russia, particularly due to sanctions over the Ukraine conflict, has prompted concerns about the nation's reliance on Russian uranium.
Notably, the United States Department of Energy recently announced plans to establish a domestic supply of uranium fuel enriched to higher levels, a move aimed at reducing dependence on foreign sources. Bids from contractors are being sought to facilitate this strategic initiative, which could potentially open avenues for alternative suppliers.
The urgency to diversify uranium sources gained momentum in December when the United States House of Representatives passed a ban on imports of Russian uranium as part of the broader sanctions campaign against Moscow. However, the bill is yet to clear the Senate and receive presidential approval to become law. This development underscores the need for the United States to fortify its energy security and reduce vulnerabilities associated with geopolitical uncertainties.
The statistics from the United States Energy Information Administration reveal that in 2022, American nuclear power plants imported about 12 percent of their uranium from Russia, while Canada and Kazakhstan contributed 27 percent and 25 percent, respectively. This information underscores the urgency of developing a robust domestic supply chain, as only 5 percent of the uranium used in the United States during that period was sourced domestically.
As the geopolitical landscape continues to evolve, the issue of uranium supply becomes not only an economic concern but also a matter of national security. The quest for energy independence is now at the forefront of the national agenda, with efforts to diversify uranium sources and reduce reliance on nations entangled in geopolitical conflicts gaining prominence.
The unfolding developments in the legislative arena and the pursuit of a domestic uranium supply highlight the intricate balance the United States must strike to safeguard its energy future in an increasingly uncertain global landscape.
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