Russia’s invasion of Ukraine has shaken the global market for uranium, a critical fuel for nuclear-power plants, prompting some in the U.S. to propose reviving domestic production.
Russia enriches more uranium for use in nuclear plants than any other country in the world. Its increasing economic isolation following its attack on Ukraine—and talk of potential added sanctions on Russian uranium—have exposed the fragility of global nuclear-fuel supplies, which are controlled by a handful of countries.
Republican Sen. John Barrasso of Wyoming—one of the main U.S. uranium-producing states—filed legislation on Thursday to ban Russian imports, calling the dependence on foreign uranium “simply unacceptable."
Uranium prices have jumped more than 30% since the start of the war as a price hike hits commodities broadly and utilities try to lock down supplies on fears that sanctions could pinch some part of the specialized fuel cycle. A trade agreement limits U.S. dependence on Russian uranium to […]
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