Russian Uranium Company Warns of Potential Export Ban

Tenex’s U.S. branch informed companies like Constellation Energy and Duke Energy about the possible ban, although Russia hasn’t made a final decision yet.

A U.S. bill to ban Russian uranium imports by 2028 is being debated, which could lead to a significant increase in uranium prices.

Russia is a major supplier of enriched uranium to the U.S., accounting for nearly a quarter of America’s supply last year.

Oil isn’t the only commodity at the center of tensions between the U.S. and Russia… Now Russian state-owned uranium company Tenex is telling American customers that "the Kremlin may preemptively bar exports" to the U.S. if Washington passes certain legislation that would prohibit imports beginning in 2028, Bloomberg reported on Friday . Tenex’s US branch has already alerted firms like Constellation Energy, Duke Energy, and Dominion Energy about a potential scenario, the report says, though Russia hasn’t finalized a decision. The individual […]

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