Biden consents prohibition on Russian uranium
Date
5/15/2024 5:59:33 AM
(MENAFN) United States President Joe Biden has enacted a bill prohibiting the import of Russian enriched uranium, a move that has stirred debate over its potential impact on the American economy. Despite warnings about potential repercussions, Biden signed the bipartisan legislation into law on Monday, emphasizing its importance for enhancing the nation's energy and economic security.
According to National Security Adviser Jake Sullivan, the legislation aims to reduce and eventually eliminate America's reliance on Russia for civilian nuclear power. The measure, which received unanimous approval from the Senate in late April, is set to take effect in approximately 90 days. However, waivers can be issued by the United States Department of Energy until 2028 under certain circumstances, such as when there is no alternative to Russian low-enriched uranium or when its shipments are deemed in the national interest.
In addition to the ban, the legislation allocates USD2.7 billion in federal funding to bolster domestic enrichment capacity, thereby supporting the growth of America's civilian nuclear industry. Despite these provisions, the move has drawn criticism from the Russian ambassador to the United States, Anatoly Antonov, who condemned it as part of Washington's ongoing policy to impose strategic economic setbacks on Russia.
Antonov warned that the ban could have repercussions beyond bilateral relations, potentially disrupting the global market for uranium fuel used in nuclear power plants. He argued that the financial losses for the United States could outweigh those for Russia and asserted that Russian sanctions resilience has proven effective in navigating economic challenges. As the ban takes effect, its impact on both countries' economies and the global uranium market remains to be seen.
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