US Nuclear Sector Faces Setback As Russia Limits Uranium Exports

Russia’s decision to restrict enriched uranium exports to the United States has raised alarms in the nuclear energy sector. The announcement, made on Telegram, provided no details about the scope or length of the restriction.

As the global leader in uranium enrichment, Russia controls nearly half of the world’s capacity and supplied over a quarter of the U.S.’s enriched uranium in 2023. While 2024 shipments are mostly complete, the U.S. nuclear industry could feel the impact in 2025.

“This could affect utilities expecting material that might now not arrive,” said uranium market expert Jonathan Hinze, warning of potential supply disruptions.

The restriction comes in response to President Joe Biden’s May ban on Russian uranium imports. The ban allows shipments to continue under waivers until 2028, but critics say it highlights the U.S.’s lack of preparedness to handle such disruptions.

Chris Gadomski, a BloombergNEF analyst, pointed to insufficient stockpiles and limited domestic enrichment capabilities. “They should have been stockpiling enriched uranium in anticipation of this happening,” he said.

The Biden administration has launched efforts to rebuild America’s uranium enrichment capacity, but the initiative is far from complete. Until then, the U.S. remains vulnerable to geopolitical moves by major suppliers like Russia.