Russia to become main uranium supplier to the US in November 2023. (Source: TASS) |
According to the US statistics agency, in November 2023, the country only bought fuel uranium from 4 countries: Russia, UK, Japan and Belgium, with a total amount of nearly 191 million USD.
Of which, Russia became the main exporter with 96 million USD. The UK accounted for 1/4 of the supply (48.6 million USD), Japan - 22% (nearly 44 million USD) and Belgium - 1.3% (2.4 million USD).
In the previous months, Russia ranked second to fourth in uranium supply to the US. Specifically, in October 2023, the US imported Russian uranium worth $63 million, in September - $32 million, in August - $50.4 million and in July - nearly $61 million.
In May 2023, Russia also took the first place in the amount of uranium supplied to the US, worth 177 million USD.
In total, in the first 11 months of 2023, Russia sold uranium worth $1.017 billion to the US, the highest since the same period in 2010 (with $1.026 billion). In 2022, the US spent $766 million to import uranium from Russia.
Earlier, it was reported that the US was considering the possibility of abandoning the import of enriched uranium from Russia. However, US experts pointed out that such a step could seriously affect the US's plan to build its own reactors.
On December 11, 2023, the US House of Representatives passed a bill banning the import of Russian uranium, although this measure is exempt in case of a shortage of supply for domestic reactors.
The bill includes exemptions that would allow imports of Russian low-enriched uranium if the U.S. Department of Energy determines there is no alternative source to operate a U.S. nuclear reactor or nuclear power company, or if such imports would serve the national interest.
However, the bill needs to be passed by the Senate and signed by US President Joe Biden. Once enacted, the US will ban uranium imports from Russia for 90 days, but subject to exemptions.
The price of uranium on the world market has nearly doubled in the past year and is continuing to rise. The price of uranium oxide U3O8 is now over 94 USD/pound (1 pound is approximately 0.45 kg). Uranium oxide is used as nuclear fuel.
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