Imposing sanctions on Russian nuclear division will hurt EU
(MENAFN) Rafael Grossi, the head of the International Atomic Energy Agency (IAEA), has cautioned that imposing sanctions on Russia’s nuclear sector would adversely affect the European Union. In an interview published on Monday with the Austrian newspaper Der Standard, Grossi underscored the European Union’s heavy dependence on Russian uranium and nuclear fuel, with some member countries relying on it for up to 40 percent of their supplies.
Grossi emphasized that transitioning away from Russian nuclear fuel is far more challenging than moving away from coal and gas. Cutting ties with Russian nuclear suppliers too abruptly would disrupt global energy markets, he warned. "Western countries are taking steps to end this dependence, but it cannot be done overnight," Grossi noted, adding that European economies are aware they cannot function without nuclear energy, hence their pragmatic approach.
This warning comes as the European Union plans to introduce its 14th package of sanctions against Moscow before July, which includes potential tariffs on EUR42 billion (USD46 billion) worth of Russian imports, including nuclear fuel.
Earlier this year, the International Energy Agency (IEA) projected that global nuclear power generation would reach a historic peak by 2025, driven by numerous countries adopting nuclear technology to cut emissions. The United Kingdom, Sweden, and Switzerland are among the nations set to enhance their nuclear power generation by extending the operational life of existing plants and constructing new ones to meet the rising demand for electricity and improve energy security.
Grossi’s remarks highlight the complexities and potential repercussions of sanctioning Russia’s nuclear industry, suggesting that such measures could have unintended consequences for the European Union's energy landscape and broader global markets.
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